SDR Ventures Advises Ketelsen Campers of Colorado on Acquisition by Camping World
SDR Ventures is pleased to announce that Ketelsen Campers of Colorado (“Ketelsen Campers”) has been acquired by Camping World Holdings Inc. (“Camping World”). SDR served as the exclusive sell-side advisor to Ketelsen Campers throughout the transaction process.
Founded by Johnny Ketelsen, a pioneer in the Midwest in the emerging RV industry in the 1960s, Ketelsen Campers of Colorado is one of the oldest and most well-respected RV dealers in Colorado. The dealership, located in Wheat Ridge, Colorado, maintains a selection of hundreds of new and used towable campers and has been awarded many honors including being named a “Top 5 RV Dealership in North America” by RV Business Magazine in 2015. Second-generation President Randy Ketelsen enlisted SDR Ventures to sell the Company so that he could retire from the business.
“SDR Ventures was instrumental due to its experience in the dealer industry and attention to detail in completing the transaction,” said Mr. Ketelsen. “Camping World is a well-respected brand, and I’m confident that our family-oriented legacy will live on.”
Camping World (NYSE: CWH) announced the pending deal to acquire Ketelsen Campers in a December 2016 press release and indicated that the transaction represented the launch of its “side-by-side” strategy. According to the release, Camping World is actively seeking “opportunities to acquire quality dealerships with strong management, brand recognition and a solid customer base in markets where Camping World has an existing presence.” Under this strategy, “the acquired businesses will continue to be operated by Camping World under the legacy name.”
Marcus Lemonis, Chairman and CEO of Camping World and Good Sam stated in the release, “Under the leadership of Randy Ketelsen, Ketelsen Campers of Colorado has consistently established itself as one of the most successful, well-known and respected dealers in the state of Colorado.”
“We’re so happy for Randy and the Ketelsen Campers family,” stated SDR Director Mike Grande. “Randy grew up around the business and then helped build it into one of the largest dealers in Colorado. As a former dealership owner myself, I have the utmost respect for Randy and the Ketelsen Campers brand, and I’m glad I was able to leverage my industry knowledge to help move this transaction toward a successful close.”