Dometic buys Atwood
Well, I didn't see that one coming- Dometic has signed an agreement to purchase Atwood Mobile Products for an undisclosed amount, a deal the company expects to broaden its product line and North Ame...
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Well, Dometic can't do any worse with the company than its present owners have. According to the article linked to above, Atwood's sales were about 200 million last year. Compare that to the 330 million it enjoyed the year before it was acquired by Insight Equity in 2007! More than a thirty percent decline in sales, even without allowing for inflation.Source of numbers
Sadder still:
When acquired by those "Insight" guys, Atwood employed about 1900 people. All but 775 are gone now. I s'pose working at their local Mcdonald's. Classic case of acquisition of a company for the sole purpose of gutting it, then passing along the wrung out bones to the next guy. Let's hope Dometic breathes some life back into the corpse!
Sadder still:
When acquired by those "Insight" guys, Atwood employed about 1900 people. All but 775 are gone now. I s'pose working at their local Mcdonald's. Classic case of acquisition of a company for the sole purpose of gutting it, then passing along the wrung out bones to the next guy. Let's hope Dometic breathes some life back into the corpse!
