|Traded as|| NYSE: THO |
S&P 400 Component
|Industry||Recreational vehicle (RV)|
(through acquisition of Airstream)
Peter Busch Orthwein
|Peter Busch Orthwein(Chairman)|
|$374 million USD (2017)|
Number of employees
|Subsidiaries||See subsidiaries below|
Thor Industries, Inc. is an American manufacturer of recreational vehicles (RVs). The company sells towable and motorized RVs through its subsidiaries brands including Airstream, Heartland RV, Jayco, Livin Lite RV, and others. The company's headquarters is in Elkhart, Indiana. It has manufacturing facilities in Michigan, Ohio, Indiana, Idaho, and Oregon.
Thor Industries, Inc. was founded on August 29, 1980,when Wade F. B. Thompson and Peter Busch Orthwein acquired Airstream from Beatrice Foods. The name "Thor" combined the first two letters of each entrepreneur's name. Airstream had not fared well during the economic downturn of the late 1970s, losing $12 million the year before it was acquired. Thompson and Orthwein had also previously acquired the Hi-Lo Trailer Company. Thor restructured Airstream and returned Airstream to profitability within one year.
In 1982, Thor acquired the Canada-based General Coach, a manufacturer of travel trailers and motorhomes. ' "200 best small companies in America".The company went public in 1984 and joined the New York Stock Exchange under the stock ticker symbol "THO" in 1986. Thor purchased The Establishment “McPheters Machine Products” which was a manufacturer of Both Class A and C motorhomes. which was In 1986, it was listed among Forbes
In 1988, Thor acquired the small bus manufacturing division of the Kansas-based ElDorado Motor Corp.It would later acquire the California-based bus manufacturer, National Coach, in 1991. Thor merged the two bus divisions to create ElDorado National.
Thor also continued acquiring RV and travel trailer makers, including Indiana-based Dutchmen in 1991and Four Winds International (also based in Indiana) in 1992. By 1994, Thor Industries was the second-largest manufacturer of RVs in North America. In 1995, Thor acquired two RV makers: Skamper (an Indiana-based manufacturer of folding travel trailers) and Komfort (an Oregon-based travel trailer company). In 1996, the company established Thor California, an RV manufacturer based in its namesake state with models like the Tahoe and Wanderer.
Thor added to its roster of bus manufacturers by acquiring the Michigan-based Champion Bus for $11 million in 1998.The company finalized a $145-million deal in 2001 to acquire Keystone RV, an Elkhart, Indiana-based manufacturer of travel trailers and fifth wheels. The deal was one of the largest in the history of the company and gave Thor a 25% market share in travel trailers and fifth wheels. In 2003, it added Damon Motor Coach of Elkhart, Indiana which it purchased for $46 million in cash. Damon's park trailer subsidiary brand, Breckenridge, was also included in the deal. The following year, Thor acquired Topeka, Indiana-based CrossRoads RV for $27 million.
In May 2005, Thor acquired Goshen Coach, a bus manufacturer from Indiana that had filed for Chapter 11 bankruptcy earlier in the month.In November 2009, Wade Thompson stepped down as the company's CEO and was replaced by Peter Busch Orthwein. Orthwein had served as the company's treasurer and director since founding it. Soon after the announcement, Thompson passed away due to complications of colon cancer.
In March 2010, Thor acquired SJC Industries, an Elkhart-based manufacturer of ambulances, for $20 million. SJC's brands of McCoy Miller, Marque, and Premiere were also included in the sale.In April of that year, the company sold its Canadian General Coach subsidiary to management. Later in 2010, Thor acquired Heartland RV, another Elkhart-based maker of fifth wheels and lightweight RVs. The company also consolidated Damon Motor Coach and Four Winds International to create Thor Motor Coach that year.
In late 2012, Thor purchased two bus companies: California-based Krystal Infinity and Ohio-based luxury bus maker, Federal Coach. Krystal was acquired through Thor's ElDorado National subsidiary and operations were moved to the Salina, Kansas facility. Federal was acquired through Thor's Champion subsidiary and operations were moved to the Imlay City, Michigan facility.In the spring of 2013, Thor moved its headquarters from Jackson Center, Ohio to Elkhart, Indiana. In May 2013, Thor sold its ambulance subsidiary, SJC Industries, to Wheeled Coach Industries. Later that year, Thor would sell its entire fleet of bus brands (Champion, ElDorado National, Federal Coach, Krystal Infinity, Goshen Coach, and General Coach America) to Allied Specialty Vehicles for $100 million.
In June 2013, Thor purchased the production site in Wakarusa, Indiana that formerly housed the manufacturing operations of Navistar International.It later acquired the former Monaco Coach facility in Wakarusa and combined the two to create the Wakarusa Production Campus. In August 2013 then-COO Bob Martin took over as CEO of the company with Peter Orthwein moving to Chairman. It also acquired the assets of Livin Lite RV's in 2013, as well as Bison Coach, a manufacturer of horse trailers that have RV-style living quarters.
Thor acquired of K-Z Inc., a manufacturer of primarily travel trailers based in Shipshewana, Indiana, in 2014.In January 2015, Thor's Heartland subsidiary acquired the RV company, Cruiser RV, and the luxury fifth wheel manufacturer, DRV. In May of that year, Thor purchased Postle Aluminum, a provider of aluminum components that were already in frequent use by Thor and its subsidiaries.
In July 2016, Thor acquired Jayco Inc. for $576 million. Jayco, based in Middlebury, Indiana, had been the largest privately owned RV maker in the world prior to the sale. Jayco's subsidiares (including Starcraft RV, Highland Ridge, and Entegra Coach) also came under the Thor umbrella.In September 2018, it was announced that Thor had agreed to purchase Hymer, a German manufacturer of RVs, in a deal worth $2.45 billion in the largest acquisition in the company's history. Hymer is the largest RV manufacturer in Europe. As a result of the deal, Thor Industries became the largest RV manufacturer in the world. The sale was officially finalized in February 2019.
Airstream is manufacturer of travel trailers and motor homes, known for its distinctive all-aluminum models. It was founded by Wally Byam in the 1930s and has had manufacturing facilities in Jackson Center, Ohio since the 1950s. It was sold to Beatrice Foods in 1967. In 1980, it became the foundation of Thor Industries after it was acquired by Wade Thompson and Peter Busch Orthwein.Airstream sells numerous models including the Flying Cloud, Classic, Nest, International Signature, and Basecamp.
Heartland RV is an Elkhart, Indiana-based manufacturer of fifth wheels and travel trailers. It was founded in 2003 by Brian Brady and was acquired by Thor in 2010. Heartland produces a range of brands including the BigHorn line, Sundance and Cyclone models.
Hymer is a German manufacturer of RVs based in Bad Waldsee. It was founded in 1923 by Erwin Hymer, but did not create its first caravan (travel trailer) until 1957. It was acquired by Thor in 2019 as Thor's first acquisition outside of the United States.
Dutchmen is a manufacturer of RVs based in Goshen, Indiana. It was founded in 1988 by Dave Hoefer, Glen M. Sylvester, and Larry Schrock and became the second-largest manufacturer of travel trailers and fifth wheels in the United States by 1990. It was acquired by Thor Industries in 1991.Dutchmen manufactures brands like the Aerolite, Coleman, Denali, Kodiak, Aspen Trail, and others.
Jayco is an RV maker based in Middlebury, Indiana. It was founded in 1968 by Lloyd and Bertha Bontrager and was acquired by Thor in 2016. It makes a variety of fold-down camping trailers, fifth wheels, motorhomes, toy haulers, and other travel trailers with brands like Starcraft RV, Highland Ridge and Entegra Coach.
Keystone RV is a Goshen, Indiana-based RV manufacturer. It was founded in 1996 by Cole Davis and was listed at number 2 on the Inc. 500 list of the fastest growing companies in 2000.It was acquired by Thor in 2001 and manufactures luxury travel trailers and fifth wheel brands including Cougar, Montana, Laredo, Passport, and Sprinter.
Thor Motor Coach, a motor home manufacturer in Elkhart, Indiana, was created in 2010 through a consolidation of Four Winds International and Damon Motor Coach.Four Winds was first acquired by Thor in 1992 and Damon was acquired in 2003.
Thor also operates several other RV manufacturers, including K-Z,Crossroads RV, and the latter's subsidiary, Redwood RV. Thor Industries also owns Postle Aluminum, a manufacturer of aluminum components that are often used in Thor's RVs.
Elkhart is a city in Elkhart County, Indiana, United States. The city is located 15 miles (24 km) east of South Bend, Indiana, 110 miles (180 km) east of Chicago, Illinois, and 150 miles (240 km) north of Indianapolis, Indiana. Elkhart has the larger population of the two principal cities of the Elkhart-Goshen Metropolitan Statistical Area, which in turn is part of the South Bend-Elkhart-Mishawaka Combined Statistical Area, in a region commonly known as Michiana. The population was 50,949 at the 2010 census. Despite the shared name, it is not the county seat of Elkhart County; that position is held by the city of Goshen, located about 10 miles (16 km) southeast of Elkhart.
A recreational vehicle, often abbreviated as RV, is a motor vehicle or trailer which includes living quarters designed for accommodation. Types of RVs include motorhomes, campervans, caravans, fifth-wheel trailers, popup campers and truck campers.
Michiana is a region in northern Indiana and southwestern Michigan centered on the city of South Bend, Indiana. The Chamber of Commerce of St. Joseph County, Indiana defines Michiana as St. Joseph County and "counties that contribute at least 500 inbound commuting workers to St. Joseph County daily." Those counties include Elkhart, La Porte, Marshall, St. Joseph, and Starke in Indiana, and Berrien and Cass in Michigan. As of the 2010 census, the population of those seven counties was 856,377.
Forest River Inc., is a US manufacturer of recreational vehicles, cargo trailers, utility trailers, pontoon boats, and buses.
A motorhome is a type of self-propelled recreational vehicle (RV) which offers living accommodation combined with a vehicle engine.
Airstream is an American brand of travel trailers which are easily recognized by the distinctive shape of their rounded and polished aluminum coachwork. This body shape dates back to the 1930s and is based on designs created by Hawley Bowlus, who had earlier overseen construction of Charles Lindbergh's aircraft, the Spirit of St. Louis.
Hymer AG is a motorhome and caravan manufacturer, located in Bad Waldsee, Germany. One of the largest manufacturers of motorhomes and caravans in Europe, the listed company Hymer AG owns several brands, including; Burstner, Carado, Sunlight, Etrusco, Elddis, Hymer, Laika, LMC, Niesmann + Bischoff, Dethleffs, Eriba, as well as camping equipment wholesale Movera. In February 2017 it acquired The Explorer Group based in Consett, UK adding the Elddis, Buccaneer, Compass and Xplore brands to its portfolio.
All American Group was an American company whose divisions produced pre-fabricated housing. Based in Elkhart, Indiana, it was founded in 1964 as Coachmen Industries. It was listed on the New York Stock Exchange under the symbol COA until 2009, when it was delisted for failing to maintain continued NYSE listing standards.
Spartan Motors, Inc. is an American automobile design company that designs, engineers and manufactures specialty chassis, specialty vehicles, truck bodies and aftermarket parts for the recreational vehicle (RV), emergency response, government services, defense, and delivery and service markets. The company is based in Charlotte, Michigan, and employs approximately 2,300 workers at facilities in Michigan, Arizona, California, Florida, Indiana, Missouri, Nebraska, Pennsylvania, South Carolina, South Dakota, Texas, Wisconsin, and Mexico. Spartan reported sales of $707 million in 2017. It was started in 1975 as a direct result of the bankruptcy of Diamond Reo.
Northern Indiana is a region of the U.S. State of Indiana, including 26 counties which border the states of Illinois, Michigan, and Ohio. Northern Indiana is also considered part of the Great Lakes Megalopolis. The area is generally classified into other sub-regions; Northwest Indiana is closely tied with Chicago economically, culturally, and politically and is part of the Chicago metropolitan area. The north central region centers on South Bend metropolitan area, with economic connections to southwest Michigan. Northeast Indiana is centered on the Fort Wayne metropolitan area.
WRDI is a radio station broadcasting a Catholic talk format. Licensed to Nappanee, Indiana, WRDI serves the South Bend, Indiana market.
Fleetwood RV, Inc. is a producer of recreational vehicles (RVs). Founded in 1950, Fleetwood RV is part of the REV Group. Rev's recreation division includes Fleetwood RV, American Coach, Monaco, Holiday Rambler, Renegade RV, Midwest Automotive Designs, and Lance Campers.
Monaco is a recreational vehicle (RV) brand, manufactured in Decatur, Indiana, and wholly owned by REV Recreation Group. Monaco holds a portfolio of Class A diesel motorhomes. REV Recreation Group is a subsidiary of REV Group.
Jayco, Inc., a subsidiary of Thor Industries, is an American manufacturer of recreation vehicles. The company manufactures fold-down camping trailers, conventional travel trailers, toy haulers, fifth-wheel travel trailers, and motorhomes. Jayco is based in Middlebury, Indiana, and about three-quarters of its 3,200-person workforce is from the Amish and Mennonite communities of Indiana.
Holiday Rambler Corporation is an American corporation which primarily manufactures recreational vehicles. It was founded in 1953. In 1961, Holiday Rambler’s introduction of aluminum body framing ushered in a new era of lighter, stronger and more durable recreational vehicles (RVs). This aluminum frame (Alumaframe) became the standard for lighter and stronger RVs for 40 years. Holiday Rambler was also responsible for many firsts; built-in refrigerators, holding tanks and aerodynamic radiused corners. As Holiday Rambler moved into motorhomes, they were the first with tag axles and the kitchen slide-out revolutionized "interior engineering" in the field. Holiday Rambler was sold to Harley-Davidson in 1986 and later in 1996 to the Monaco Coach Corporation where its future, then under Navistar International Corp., was difficult in 2010 as it was for most motorhome manufacturers.
Heartland RVs is an American manufacturer of recreational vehicles located in Elkhart, Indiana. Founded by former Damon Corp. CEO Brian Brady in 2003, it was purchased and became a subsidiary of Thor Industries in 2010.
WTRC-FM is a commercial radio station, licensed to Niles, Michigan and featuring a news/talk format. The station's licensee is Federated Media. Its programming and on-air presentation are closely patterned after Federated's news/talk station in Fort Wayne, WOWO. The station broadcasts syndicated programming, including Glenn Beck, Rush Limbaugh and Sean Hannity. WTRC-FM is a Fox News Radio affiliate, and simulcasts Penn High School football from the Regional Radio Sports Network.
REV Group is an American manufacturer of specialty vehicles, including buses, fire trucks, ambulances, and recreational vehicles.
The RV/MH Hall of Fame is a 100,000 sq. ft. museum in Elkhart, Indiana that features a variety of historical recreational vehicles from Airstream, Winnebago and other American makers. The foundation states that their primary goals are to "To create a display of historic RV/MH products in a museum for the education and enjoyment of the public."
Livin Lite RV was an American manufacturer of recreation vehicles sold under the CampLite and QuickSilver brands. It was based in Shipshewana, Indiana. The company was most recently managed by KZ Inc., a subsidiary of Thor Industries. Livin Lite made truck campers, fold-down tent camping trailers, travel trailers, and toy haulers. They were known for their advanced lightweight aluminum construction techniques.
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