Actuant Corporation has acquired Cottage Grove, OR-based Kwikee Products, a provider of actuation and storage systems for the North American recreational vehicle market.
Kwikee employs approximately 115 people at its Oregon and Indiana operations where it manufactures and sells electrically actuated retractable step systems, trays, levelling and slide-out systems to recreational vehicle manufacturers, including Winnebago, Monaco and Fleetwood.
Kwikee’s trailing twelve-month sales are approximately $24 million. The transaction was structured as an asset purchase, with funding for the approximate $30 million acquisition coming from borrowings under Actuant’s senior secured credit agreement.
Kwikee’s existing management team will continue to lead the business following the acquisition and will operate as part of Actuant’s Engineered Solutions unit.