KV Capital Divests Northern Lite and Off Grid Trailers

After five years of driving growth and catalyzing performance improvement, KV Capital realizes a full investment cycle on two Fund I portfolio companies

September 21, 2022

Edmonton, Alberta — KV Capital has divested two of its Fund I portfolio companies, Northern Lite and Off Grid Trailers—premium manufacturers of truck campers and overland trailers, respectively—to TriWest Capital Partners under a newly formed entity called Outdoor Adventure Group.

With the launch of its Fund I portfolio, KV Capital acquired Northern Lite and Off Grid Trailers in 2017 and since then has enjoyed successful partnerships with both companies, propelling each forward from smaller, regional, owner-operated private businesses to competitive industry players in the mid-market arena with strong backlogs.

“It has been rewarding to partner with Northern Lite and Off Grid Trailers to tremendously scale up each aspect of their businesses,” says KV Capital’s President, Private Equity, Jonathan Herman. “From day one, we were thrilled to invest in these two premium brands and their respective teams to collaborate on implementing innovative growth solutions to tap into their underlying potential. The management teams of Northern Lite and Off Grid Trailers led by Presidents Keith Donkin and Duane Leedell executed exceptionally well, and we wish them continued success as they enter their next phase of growth with their new partner, TriWest—a very reputable private equity firm in Canada.”

By supporting management with operational assets and investment capital, KV Capital and the two companies identified and executed on several value-enhancing initiatives including expanding market share and reach, driving operational efficiencies, increasing production, developing innovative products, and widening the scope of marketing channels.  

“KV Capital’s significant investment in terms of both funding and resources in the development of our brand and product is evident in the company’s profile today,” notes Off Grid Trailer President Duane Leedell. “By executing on an aligned vision for Off Grid Trailers and sharing a common understanding of our market, our partnership has built a strong positive trajectory for our company.”

Northern Lite President Keith Donkin echoes a similar sentiment. “Our company was founded on the principles of quality and integrity,” says Donkin. “By continuing to weave those values through all facets of our working relationship, KV Capital served as our trusted partner in bringing the success of Northern Lite to new heights. We look forward to carrying this momentum forward as we engage with TriWest.”

Financial terms of the transaction were not disclosed. Deloitte Corporate Finance Inc. served as the financial advisor for KV Capital. Bryan & Company LLP provided legal counsel for KV Capital, while tax services were managed by Felesky Flynn LLP.

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KV Capital continues to actively seek new investment opportunities for its second fund, KV Private Equity Fund II.

About KV Capital
Founded in 2006 and based in Edmonton, Alberta, KV Capital is a Canadian, alternative investment fund manager with approximately $250 million in committed assets under management. KV Capital’s funds are split into a diverse range of asset classes including private operating businesses and real estate mortgages. KV Capital has been on the Profit 500 ranking of Canada’s fastest-growing companies for six consecutive years and has funded over $1 billion in investments across several different asset classes.

About Northern Lite
Based in Kelowna, British Columbia, Northern Lite is a 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.

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.

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Inquiries 
Vanessa Tracy-Roth 
Marketing Manager, KV Capital  
vanessa.tracy-roth@kvcapital.ca |780.999.5727