Monaco Coach Corporation Announces Engagement of Imperial Capital, LLC to Evaluate Strategic Alternatives
January 05 2009 - 6:00AM
Marketwired
Monaco Coach Corporation (NYSE: MNC), one of the nation's leading
manufacturers of recreational vehicles, announced today that it has
engaged Imperial Capital, LLC as a financial advisor to assist the
Company with its evaluation of strategic alternatives.
The Company intends to consider a variety of financial and
strategic alternatives including joint ventures, mergers or other
strategic transactions, with a focus on improving liquidity and
maintaining its strong balance sheet. In addition, Monaco Coach
Corporation has retained Avondale Partners, LLC to evaluate
strategic alternatives for Signature Motorhome Resorts business and
BMO Capital Markets has been retained for its equine trailer
division, Bison Manufacturing, LLC and its specialty trailer
division, Roadmaster LLC.
Kay Toolson, the Company's CEO, commented, "Monaco will continue
to execute its business plan while maintaining its tradition as a
leading national manufacturer of recreational vehicles. We are
confident that our retention of Imperial Capital will help us
capitalize on our competitive position and the strength of our
brands in order to maximize long-term value."
The Company cautions that there can be no assurance that this
evaluation will result in any specific financial or strategic
transactions.
About Monaco Coach Corporation
Monaco Coach Corporation, a leading national manufacturer of
motorized and towable recreational vehicles, is ranked as the
number one producer of diesel-powered motorhomes. Dedicated to
quality and service, Monaco Coach is a leader in innovative RVs
designed to meet the needs of a broad range of customers with
varied interests and offers products that appeal to RVers across
generations.
Headquartered in Coburg, Oregon, with manufacturing facilities
in Oregon and Indiana, the Company offers a variety of RVs, from
entry-level priced towables to custom-made luxury models under the
Monaco, Holiday Rambler, Safari, Beaver, McKenzie, and R-Vision
brand names. The Company maintains RV service centers in
Harrisburg, Oregon and Wildwood, Florida and operates
motorhome-only resorts in California, Florida, Nevada and
Michigan.
Monaco Coach Corporation trades on the New York Stock Exchange
under the symbol "MNC." For additional information about Monaco
Coach Corporation, please visit www.monaco-online.com or
www.trail-lite.com.
Certain statements above, including the Company's ability to
continue to execute its business plan, are forward-looking
statements subject to various risks and uncertainties that could
cause actual results to differ materially from these statements.
These risks and uncertainties include continued restriction of
credit standards affecting retail and wholesale financing, an
increase in the amount of dealer inventory that becomes subject to
repurchase demands, failure to generate sufficient cash flow to
sustain our operations, failure to improve our operating results,
inability to maintain compliance with various covenants under our
existing credit agreements or to obtain any required waivers from
the lenders, further declines in the wholesale and retail markets
for recreational vehicles, an increase in interest rates, a further
decline in consumer confidence, consumers' preference for certain
models and resort lots including competitors' offerings and an
increase in the price or decease in the availability of fuel.
Please refer to the Company's SEC reports for additional risks and
uncertainties, including but not limited to the most recent Form
10-Q, the annual report on Form 10-K for 2007, and the 2007 Annual
Report to Shareholders for additional factors. These filings can be
accessed over the Internet at http://www.sec.gov or
http://www.monaco-online.com.
CONTACT: Craig Wanichek Director of Investor Relations Monaco
Coach Corporation (541) 681-8029
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