TRIWEST CAPITAL PARTNERS ANNOUNCES PARTNERSHIP WITH OUTDOOR ADVENTURE GROUP
Calgary, Alberta (September 21, 2022) — TriWest Capital Partners (“TriWest”) today announced that it has partnered with Northern Lite Truck Campers (“Northern Lite”) and Off Grid Trailers (“Off Grid”), forming Outdoor Adventure Group (“OAG”), a leading recreational vehicle manufacturer and distributor.
OAG is comprised of two leading recreational vehicle brands, both uniquely positioned within their niche markets. Founded in 1989 and based in Kelowna, BC, Northern Lite is Canada’s leading manufacturer of fiberglass truck campers built for all four seasons. The company’s products are highly sought after due to their exceptionally high quality and strong reputation in the truck camper market and are distributed across a large, well-established dealer network. Founded in 2016 and based in Edmonton, Alberta, Off Grid designs and distributes highly innovative, superior quality, off-road trailers aimed at outdoor enthusiasts. Off Grid distributes primarily through a direct-to-consumer model, allowing its customers to hand-pick their features and options. In addition to its core off-road trailer products, Off Grid is a reseller of a variety of outdoor products through a growing online marketplace.
“We are highly excited to partner with Keith and Duane and their respective management teams at Northern Lite and Off Grid”, said Dave Connolly, Managing Director at TriWest. “TriWest has been very impressed with the industry-leading, innovative product offerings, management’s dedication to superior product quality and customer service, and the impressive track record of growth demonstrated by both brands. We look forward to supporting the OAG teams as they continue to execute their strategic growth initiatives.”
Duane Leedell, President at Off Grid said, “The entire team and I are excited for this new partnership – the alignment and focus on growth, execution, quality, brand, and culture will go far in assuring future success in all our markets. It’s always been the vision of Off Grid to create the best outdoor experience for our valued customers. The next phase of growth, in concert with TriWest’s support and excellence, will prove to be an exciting time.” Keith Donkin, President at Northern Lite echoed this sentiment, stating, “We are looking forward to working with the TriWest team as we continue to grow our business and increase our market share across North America.”
TriWest partnered with Roynat Equity Partners and Export Development Canada as part of this investment. Northern Lite and Off Grid were acquired from KV Private Equity, a division of KV Capital, an Edmonton, Alberta-based alternative investment fund manager (www.kvcapital.ca).
About Northern Lite
Based in Kelowna, British Columbia, Northern Lite is the leading Canadian manufacturer of high-quality truck campers specializing in fiberglass construction built for all four seasons. Since its inception in 1989, Northern Lite has built a reputation throughout the RV industry for quality, workmanship, and high end fit and finish. The company holds the distinction of producing North America’s only campers to achieve a five-star rating for over 15 years running in the RV Rating Book as listed by the RV Consumer Group. For more information please visit: www.northern-lite.com.
About Off Grid Trailers
Headquartered in Edmonton, Alberta, Off Grid Trailers redefines camping with innovative off-road overland trailers designed to connect outdoor enthusiasts with nature as an invitation to explore the wild with unparalleled adventure. Bringing backcountry camping into the mainstream, Off Grid Trailers builds durable off-road camper trailers in Canada that can withstand any climate and any terrain. For more information please visit: www.offgridtrailers.com.
About TriWest Capital Partners
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over C$1.4 billion in committed capital through six funds. TriWest has successfully invested in 46 companies across a broad cross-section of the economy in partnership with their management teams. We work closely with our management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information please visit: www.triwest.ca.
About Roynat Equity Partners
Roynat Equity Partners facilitates growth and creates wealth in established mid-market private companies by providing patient capital, advice and contact networks to Canadian entrepreneurs. With offices across Canada, Roynat Equity Partners is dedicated to helping mid-market companies grow and achieve their business goals. Roynat Equity Partners is a division of Roynat Capital Inc. which is a wholly owned subsidiary of Scotiabank. For more information, please visit www.roynat.com.
About Export Development Canada
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or please visit www.edc.ca.