TriWest invests in merger that creates Outdoor Adventure Group

• Northern Lite is a Canadian manufacturer of fiberglass truck campers
• Off Grid designs and distributes off-road trailers aimed at outdoor enthusiasts
• TriWest partnered in the investment with Roynat Equity Partners and Export Development Canada

TriWest Capital Partners has acquired Canada’s Northern Lite Truck Campers and Off Grid Trailers from KV Private Equity, a division of KV Capital. No financial terms were disclosed.

TriWest will combine the two businesses to create Outdoor Adventure Group, a recreational vehicle manufacturer and distributor. The firm partnered in the investment with Roynat Equity Partners and Export Development Canada.

Northern Lite is based in Kelowna, British Colombia and was founded in 1989. It is a manufacturer of fiberglass truck campers. Off Grid is based in Edmonton and was founded in 2016. It designs and distributes off-road trailers aimed at outdoor enthusiasts.

“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.”

The Outdoor Adventure deal follows TriWest’s investment in Kidoodle.TV in June. The firm invested $61 million (C$80 million), as reported by PE Hub.

TriWest, a Calgary-based private equity firm, was founded in 1998 and to date has raised over C$1.4 billion of committed capital. It invests in mid-market companies with operating earnings/EBITDA in the range of $10 million to $100 million, or higher in certain circumstances.