ShoreView is Pleased to Announce the Successful sale of Kibbi LLC
ShoreView is pleased to announce the successful sale of Renegade to REV Group, Inc.
Prior to ShoreView’s investment, the owner of Renegade was seeking diversification of his net worth and a strong financial partner to pursue significant growth opportunities. ShoreView structured a transaction that:
- Provided liquidity to the owner of the business allowing him to retire
- Provided financial resources to support management’s growth plan
- Created an ownership incentive plan for key managers
- Working together, ShoreView and Renegade successfully completed a leadership succession plan, expanded the Company’s product lines, broadened Renegade’s dealer base, and added key members to the management team.
About Kibbi LLC
Renegade is the leading manufacturer of recreational vehicles and trailers as well as specialty vehicles used for mobile marketing, mobile command centers (i.e. law enforcement), and mobile medical facilities. The Company manufactures all of its vehicles on commercial chassis. Renegade sells its products through a network of recreational vehicle dealers, trailer dealers, and specialty vehicle integrators.
About ShoreView Industries
ShoreView Industries, based in Minneapolis, manages $900 million in private equity funds. ShoreView invests in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million