TriWest Capital Partners, based in Calgary, Canada, announced that it entered into a partnership with Northern Lite Truck Campers and Off Grid Trailers, forming Outdoor Adventure Group (OAG), a recreational vehicle manufacturer and distributor.
Two recreational vehicle brands based in Canada are under the OAG umbrella.
Founded in 1989 and based in Kelowna, BC, Northern Lite is a Canadian manufacturer of fiberglass truck campers. Founded in 2016 and based in Edmonton, Alberta, Off Grid designs and distributes off-road trailers, and distributes primarily through a DTC model. Off Grid is also a reseller of outdoor products through an 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, 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, 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, Northern Lite, echoed this sentiment, “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, Canada-based alternative investment fund manager.