Colerain RV, which is backed by Kidd & Company LLC, has promoted Wade Stepp to president and chief operating officer. The appointment is effective immediately. Previously, Stepp served as executive vice president of operations. Cincinnati-based Colerain is a specialty retailer of recreational vehicles.
CINCINNATI, OH, August 8, 2016 – Colerain RV (“Colerain” or the “Company”), a specialty retailer of recreational vehicles (“RVs”) with five dealership and service locations in Ohio, Indiana and Kentucky, today announced the promotion of Wade Stepp to President and Chief Operating Officer, effective immediately.
Mr. Stepp joined the Company in 2001 and had most recently been acting in the role of Executive Vice President of Operations. Additionally, Mr. Stepp is one of the shareholders of Colerain who reinvested in the business when it was acquired by Kidd & Company, LLC, a private investment firm, in January. Tony Castor, a Partner at Kidd & Company and Chairman of the Board of Colerain, said, “We are very pleased with the progress of Colerain since our acquisition and Wade’s leadership has been instrumental in continuing to grow the business and in integrating the Lexington, Kentucky location that was acquired from Northside RVs in January. Our financial and management resources are available to him as we work together to continue the company’s growth path and strategic expansion. Wade has been a terrific partner, and we trust and value his leadership and judgment.”
As a 10+ year automotive industry veteran prior to joining Colerain, Mr. Stepp held various operating positions in automotive dealerships. Since joining Colerain as an equity partner in 2001, he has helped lead revenue growth, customer service initiatives, and a multi-store expansion strategy that led to the newer Colerain locations in Dayton, Indianapolis, Columbus and Lexington. Chuck Jung, Executive Vice President of Colerain, said, “Wade has been a significant contributor to our management team for the last 15 years and has led our expansion into additional locations. I look forward to continuing to work with Wade in achieving our growth objectives.”
Founded in Cincinnati, Ohio in 1968 by Charles and Lolly Jung, Colerain RV provides sales of new and used RVs, related services, parts and accessories for RV owners and camping enthusiasts. Colerain enjoys top-tier dealer status with numerous RV manufacturers for its consistently high sales volume and stewardship of their brands, and the Company successfully continues to expand the product lines it carries. Colerain has also developed a stellar reputation among its retail customer base for delivering best- in-class sales and service. During its first 40 years, Colerain operated out of one location, but as its reputation and demand for its products has continued to grow, it has expanded and now operates five dealership locations in contiguous metropolitan markets across three states. For more information, visit www.colerainrv.com.
About Kidd & Company
Based in Old Greenwich, Connecticut, KCO traces its roots to 1976 when William Kidd made his first private equity investment. Today, KCO is the private investment arm of the Kidd Family Office engaged in sponsoring private equity transactions in the lower middle market. The firm's focus is on driving superior returns by implementing fundamental strategic and operational improvements to drive above-market growth in revenue and earnings, both organically and through accretive acquisitions. The diverse skill set of its partners allows KCO to bring management, operational, sales and marketing, corporate finance and M&A expertise to bear to substantially increase the total value of its investments. For more information, visit www.kiddcompany.com.