Dometic Acquires Front Runner Vehicle Outfitters
SUMMARY
- This transaction strengthens Dometic’s product offering and distribution network for the vehicle based outdoor market.
- Net sales of Front Runner Vehicle Outfitters in the last fiscal year were approx. USD 35 million with a good operating margin.
- The products are sold on four continents through their own B2C e-channels (appr. 50% of total sales) and through more than 600 dealers.
- The transaction is expected to be accretive to Dometic’s EPS from start.
DESCRIPTION OF FRONT RUNNER VEHICLE OUTFITTERS
Front Runner Vehicle Outfitters is a global provider of high qualitive products for the vehicle based outdoor market. The products include roof racks, rooftop tents, storage products and load bars. The products are sold on four continents through their own B2C e-channels (appr. 50% of total sales) and through more than 600 dealers.
Net sales in the last fiscal year were approx. USD 35 million with a good operating margin.
Front Runner Vehicle Outfitters is privately owned, has approximately 320 full-time employees with the headquarters and manufacturing near Johannesburg, South Africa.
BACKGROUND AND REASONS FOR THE TRANSACTION
Dometic has identified the vehicle based outdoor market as a strong opportunity for growth. Front Runner Vehicle Outfitters, with its offering of high-quality outdoor products, is a perfect fit to Dometic’s existing offering for this market.
"I am pleased to welcome Front Runner Vehicle Outfitters and its employees to Dometic. With this acquisition we are strengthening our offering and distribution network for the outdoor market. Our strategy for profitable expansion in Mobile Living is built on a combination of organic and acquisitive growth. This is our fourth announced acquisition this year and our pipeline of potential future acquisitions remains strong." says Juan Vargues, President and CEO of Dometic.
The acquisition is fully financed via cash on hand and is expected to be accretive to Dometic’s EPS from start.
The transaction price is not material in relation to Dometic’s market capitalization and is not disclosed. Closing is expected to take place during the third quarter of 2021.
Pressekontakt
Minako Nakatsuma Olofzon | pr@dometic.com | +46 8 501 025 41
OM DOMETIC
Dometic er en globalt førende virksomhed inden for mærkevareløsninger til det mobile liv på områderne mad- og drikkevarer, klima, strøm og kontrol og andre funktioner. Dometic har afdelinger i Nord- og Sydamerika, Europa, Mellemøsten, Afrika og Asien og tilbyder produkter til brug i fritidskøretøjer, lastbiler og biler, fritids- og arbejdsbåde samt til mange andre anvendelser. Vores motivation er at tilbyde intelligente og pålidelige produkter med enestående design. Vi sælger vores produkter i ca. 100 lande, og vi har et globalt distributions- og forhandlernetværk til rådighed for vores kunder. Dometic har ca. 6.500 ansatte i hele verden, nettoomsætningen var i 2020 på mere end 16,2 milliarder SEK (1,8 milliarder USD), og hovedsædet ligger i Stockholm, Sverige.
