Thor Industries, a leading manufacturer of Recreational Vehicle (RV) has acquired Elkhart-based Postle Aluminum Co., according to their announcement on Friday, paying $144 million for the company.
The company and its subsidiaries are one of the prime customers for Postle Aluminum thanks to the increasing demand for aluminium to create strong but lightweight RVs. “It made sense for Thor to protect its supply chain,” says Bob Martin, president and CEO of Thor.
Thor allows independent operations to its subsidiaries posing no apparent threat for Postle to carry on business with other RV manufacturers along with the customers that are outside the RV industry. Martin says it will provide a little bit of diversification for Thor as well.
In a release Martin says, "As a key supplier to our industry, Postle has built a longstanding reputation for quality and service in aluminum extrusions and specialized components that set the standard for the industry. We expect that Postle will continue to operate independently like our other subsidiaries, which is made possible because of our decentralized structure. This structure will enable Postle to continue serving their valued recreational vehicle and other customers with quality extrusions as they have done so well for the past 40 years."
Postle generates sales of about $220 million in 2014 and employs about 500 in northern Indiana and southwestern lower Michigan.
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