Editor’s Note: The headline was changed to reflect that Power Products acquired Progressive Industries, not Progressive Dynamics. We regret any confusion that may have caused.
MENOMONEE FALLS, Wis. — Power Products has acquired Apex, N.C.-based RV electrical equipment manufacturer Progressive Industries from Thomas Fanelli. The terms of the transaction, which was completed April 7, were not disclosed, Milwaukee Business News reported.
Progressive Industries, which has about 30 employees, makes surge protection equipment, adapters and connectors used by RV owners. The company will retain its branding and operations in Apex. The current management team at Progressive Industries will remain in place, save for president and former owner Fanelli, who will retire, the publication explained.
The acquisition opens up new growth opportunities for Power Products in the RV industry, said David Scheer, chief executive officer of Power Products.
The full story is available at Milwaukee Business News.
This marks the 19th announced consolidation within the RV industry since Jan. 1, according to reports published by RV Daily Report. Some deals may have been announced during RV Daily Report’s end-of-year break in late 2016, but the news was published after the new year. Here is the current 2017 RV industry consolidation scorecard:
- Jan. 3 – Camping World acquires RV World of Georgia
- Jan. 10 – Camping World acquires RV-Max: Three locations in Texas
- Jan. 19 – Camping World buys Jamatt RV in Oklahoma
- Feb. 2 – Camping World buys Nelson’s RV in Idaho
- Feb. 16 – Camping World acquires McGeorge’s RV in Virginia
- March 3 – Willkins RV acquires Ballantyne RV in New York
- March 8 – Camping World acquires Safford RV in Virginia
- Jan. 2 – REV Group takes over Renegade RV
- Feb. 10 – Hymer acquires Explorer Group in England
- Jan. 2 – Covercraft acquires ADCO
- Feb. 2 – Dexter acquires Tie Down Engineering
- Feb. 9 – Lippert Components acquires Sessa Klein
- March 16 – Ultrafabrics merges with Daiichi Kasei Company
- March 20 – Patrick Industries acquires Medallion Plastics
- April 3 – Valterra acquires Diamond Group
- April 4 – The Eastern Company acquires Velvac
- April 12 – Power Products acquires Progressive Industries
- Jan. 20 – Zeman Homes buys Paradise Camping Resort in Grand Prairie, Ill., and Seasons in the Sun RV Resort in Mims, Fla.
- April 4 – Diversified Investment Companies acquires Hidden Creek Camping Resort in Marion, N.C.