TORONTO, June 25, 2019 /CNW/ - Infinity Asset Solutions, Toronto, announced today that they will proceed with a four (4) - Day Auction of the ERWIN HYMER GROUP NORTH AMERICA, INC ("EHGNA") assets located in the Kitchener, Cambridge and Guelph, Ontario, Canada manufacturing plants. Over $10-million dollars of Machinery, Recreational Vehicle parts and finished Trailers will be put up for Auction. Other inventory includes Steel Fabrication, Thermoforming Equipment, Air Compressors, New RV Euro Trailers, Vehicles, Warehousing, Shop Tools, Parts and Accessories, Electrical and Electronics, Paint Shops, over 75,000 sq. ft. of Executive Boardrooms and Office Equipment and much more.
In 2016, the ERWIN HYMER GROUP purchased Roadtrek Motorhomes Inc, seeing the acquisition as an opportunity to break into the North American Recreational Vehicle market. By capitalizing on Roadtrek's significant share of the Class B Motorhome segment, this purchase opened the door to the introduction of European styles and the expansion of the RV Trailer market in Canada and the United States.
EHGNA became one of North America's largest players in the Class B Recreational Vehicle Industry and the sole manufacturer of both 'Hymer' and 'Roadtrek' branded RV's and trailers, expanding to four locations across southern Ontario. On February 15, 2019, by Order of the Ontario Superior Court of Justice (Commercial List) (the "Court"), EHGNA was placed into Receivership.
As previously announced, Rapido Group, owner of the Westfalia brand, has received Court-approval to acquire substantially all of the assets related to the Roadtrek brand, an operating division of EHGNA. Rapido is in the process of assuming the lease of one of EHGNA's existing facilities and is hiring a workforce that could grow to more than 200 employees.
As a result, three of the four Ontario, Canada EHGNA plants will close forever upon completion of this unprecedented Auction Sale.
For over 25 years, Infinity Asset Solutions has been a full service asset solution provider for businesses of all sizes in a variety of industries including the disposition of industrial, retail and wholesale inventories and real estate. This includes a comprehensive valuation service for collateral-based lending, asset disposition and acquisitions.
SOURCE Infinity Asset Solutions
For further information: please contact Mr. BJ Winning at 905-669-8893 or [email protected] or visit https://infinityassets.com/erwin-hymer-group-court-approved-1289.html