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SJC Industries Acquired by Thor Industries

April 6, 2010 - William Blair & Company announces the success of its client, SJC Industries Corp., in connection with its sale to Thor Industries, Inc., for $20 million in cash. William Blair & Company served as exclusive financial advisor to SJC for the transaction.

SJC, based in Elkhart, Indiana, is one of the largest North American ambulance manufacturers and offers a full range of modular and van-type ambulances, as well as other specialty vehicles. SJC’s vehicles are sold under three distinct and respected brand names: Marque, McCoy Miller, and Premiere, each targeting unique segments of the market. SJC’s vehicles are used by a diverse group of domestic and international emergency medical service providers, including municipalities, fire departments, and hospital-based, private, and volunteer organizations. As a result of strong management, industry-leading innovation, and modern, efficient, and vertically integrated manufacturing, the company has developed substantial brand equity and is recognized for its high-quality, long-lasting, and reliable vehicles.

Thor Industries, based in Jackson Center, Ohio, is the world’s largest manufacturer of recreation vehicles and is a major builder of commercial buses. The company’s products include Class A, B, and C motor homes, travel trailers, and fifth wheels, as well as several lines of small and midsize transit and commercial buses. Thor was founded in 1980, operates more than 10 facilities in locations throughout the United States and Canada, and employs more than 6,000 people.

“The ambulance business is a natural fit with Thor’s bus and RV businesses,” Thor Chairman, CEO and President Peter Orthwein said in a news release. “SJC is an innovator with a strong commitment to customer satisfaction. We believe their quality is the highest in the ambulance industry. The relationship with Thor will bring many operational synergies to SJC, including procurement and lean production processes, among others.” Under Thor’s new ownership, SJC will continue as an independent operation, in the same manner as Thor’s recreational vehicle and bus companies.

For additional information about how the investment banking professionals at William Blair & Company can help your business or portfolio company, please visit our Web site, www.williamblair.com, or contact us via e-mail at corpfin@williamblair.com.

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