Monomoy Agrees to Acquire Thetford, a Leader in RV and Marine Products

Monomoy Capital Partners, a middle-market private investment firm focused on operational value creation, has signed a definitive agreement to acquire Thetford Corporation ("Thetford") from The Dyson-Kissner-Moran Corporation ("DKM"), a private investment company. Thetford is a leading manufacturer of mobile sanitation products for the RV, marine, camping and truck markets.

With a focus on the fast-growing RV market, Thetford is a global supplier of sanitation, refrigeration and cooking solutions for the recreational vehicle and marine industries. Founded in 1963, Thetford operates in all major global markets and maintains facilities and offices in 10 countries worldwide. The company has built a market leading position in each of its product offerings across all geographies. Its products are sold to original equipment manufacturers for use on new RVs, as well as into the aftermarket through multiple channels, including distributors, dealers, retailers and e-commerce.

The company's global headquarters are in Etten-Leur, Netherlands and its U.S headquarters are in Ann Arbor, MI. Stéphane Cordeille will continue to lead as the global CEO from the company's executive leadership office in Etten-Leur, Netherlands.

"I look forward to partnering with the Monomoy team as Thetford enters the next phase in its evolution. We are confident that their operational playbook, deep knowledge of our industry and end-markets and eagerness to further ingrain Thetford as the go-to supplier across the RV OEM and aftermarket channels will drive continued success going forward," said Mr. Cordeille. "Under Monomoy's ownership, we will continue to focus on product quality, innovation and excellent service."

Monomoy Co-CEO Justin Hillenbrand commented, "We are excited to partner with Stéphane Cordeille and the rest of the Thetford management team. Thetford's management team has built a global brand within the RV market that has a long-standing, enthusiast customer base. It has developed strong customer relationships driven by its focus on product quality and customer service. We look forward to growing the business organically as well as through M&A and believe Thetford is uniquely positioned to benefit from strong RV demand and an increasing RV installed base that will provide the opportunity to grow its aftermarket business for years to come."

DKM is a private investment company (www.dkmcorp.com) that has owned Thetford for more than three decades and will retain a meaningful equity interest in Thetford.

Thetford will be the third platform investment from Monomoy's fourth private equity vehicle, Monomoy Capital Partners IV, L.P. The transaction remains subject to customary closing conditions and regulatory approval.

Carolyn Vardi and Bethany Hickey of Ropes & Gray LLP provided legal counsel to Monomoy on the acquisition. Greenhill & Co., LLC served as financial advisor and Jay Romagnoli and Meghan McKeever of Torys LLP served as legal counsel to Thetford Corporation.

About Monomoy

Monomoy Capital Partners is a private investment firm with $2.8 billion in committed capital across a family of five investment funds. Monomoy invests in the equity and debt of middle-market businesses that can benefit from operational and financial improvement with a focus on manufacturing, distribution and consumer product businesses in North America and Europe. Please see our website at www.mcpfunds.com for further information concerning Monomoy and its portfolio companies.