Charter Plan Attracts Four RV Acquisition Candidates Charter Equities, Inc. (Pink Sheets: CEQI) announced today that since the recent acquisition of Saddleback Recreational Vehicles, Inc. www.saddlebackrv.com and the release of its Plan to consolidate RV dealerships, Charter has been contacted by representatives of four suitable RV dealership acquisition candidates representing approximately $400,000,000 of annual sales revenues to pursue discussions for combining their dealerships under the Charter Plan.
“An individual dealer and a group that had been exploring a roll up of RV dealers have contacted Charter to discuss any potential for a business combination under our Plan,” said Mat Curtner, President of Charter. “We appreciate their interest level and see it as a further validation of our vision that could very well accelerate our next twelve month acquisitions,” Curtner said. Discussions with a move toward a possible Letter of Intent with the candidates will be pursued at the earliest convenience of the parties.
The Charter Consolidation Plan reveals that the United States recreation vehicle industry is a $16 billion a year industry that caters to the travel and leisure needs of an estimated 30 million RV enthusiasts by selling and servicing recreation vehicles. The Recreation Vehicle Industry Association (RVIA) lists the number of new RVs shipped to dealers in a range between 256,000 up to 384,400 per year since 2001.
Saddleback is a highly visible recreational vehicle dealer in Colton, California. Saddleback operated from Irvine, California from 1991 before moving to its new, state-of-the-art Colton dealership facility in 2006. Their new dealership includes a comfortable atmosphere and extensive service capabilities for the well-heeled RVer. With average annual sales of $24,938,000 the past four years, Saddleback has a recognized and well established presence in the RV dealership community. Saddleback has exclusive marketing territories for the following products or manufacturers: 5th Wheel Trailers by Carriage, Inc.; Toyhaulers by Dutchman; Class C and Class A motorhomes by Gulfstream and Four Winds, a division of Thor, and luxury motorhomes by Foretravel.
As a wholly owned subsidiary of Charter, Saddleback will continue to be managed by Michael Sebastian as Dealer Principal of the Saddleback dealership with the added responsibility of identifying potential acquisition candidates.
In addition to Saddleback and the RV acquisition plan, Charter currently invests in, owns and manages real estate in the Phoenix market through its other subsidiaries, Charter Investment Properties, Inc. and Charter Media and Marketing, Inc. www.charterequitiesgroup.com
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment.
We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.
Charter Equities, Inc., Gilbert Mat Curtner, 480-570-4913
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