SOUTHLAKE, TX, and ROCHESTER HILLS, MI -- Insight Equity I L.P., the Dallas, TX-area private equity firm, and DURA Automotive Systems, Inc. have announced the close of the sale of DURA’s Atwood Mobile Products division to Insight Equity I L.P for $160.2 million. Insight made the acquisition through Atwood Mobile Products LLC (Atwood Acquisition Co., LLC), the investment vehicle Insight created for the acquisition of Atwood, an independent manufacturer of gas appliances, windows, doors, electronics and hardware to the Recreation Vehicle (RV) industry. Atwood Mobile Products had $330 million in sales last year and it is headquartered in Elkhart, IN.
Ted Beneski, managing partner and CEO of Insight said, “We are excited to add Atwood Mobile Products to the Insight portfolio. Our vision for the future is to continue to build the company into the industry’s leading manufacturer of RV components.”
“Atwood is a profitable business poised for growth with Insight,” said Larry Denton, DURA’s chairman and CEO. “This divestiture allows DURA to focus on its core automotive parts business while we position DURA for long-term success and emergence from Chapter 11 this year.”
Atwood is the eighth acquisition in Insight’s current fund, which closed in July 2005. Atwood also represents the fourth investment Insight has made during the last 11 months in domestic transportation manufacturing companies.