Monomoy Capital Partners Agrees to Acquire Western Recreational Vehicles, Inc.

NEW YORK--Monomoy Capital Partners, L.P. announced today it has agreed to acquire and recapitalize Western Recreational Vehicles, Inc. (“Western RV”), a 36-year old manufacturer of high-end recreation vehicles based in Yakima, Washington. The transaction is expected to close in the second week of December.

Western RV specializes in the design and manufacture of premium recreational vehicles for the Class A motor home, fifth wheel and truck camper segments of the RV industry. Western RV builds the automotive chassis for its products, making it one of few vertically integrated manufacturers in the industry. The company distributes and services its vehicles, including the Alpine Coach, a premier Class A diesel motor coach, through a network of independent dealerships throughout the United States and Canada.

Western RV will continue to operate from its 400,000 square foot manufacturing and service facilities in Yakima, Washington, where it employs approximately 250 highly-skilled employees. Ron Doyle will continue to serve as President of Western RV, and the Company’s operating management will remain with the new company.

“The Monomoy acquisition is a very positive step for the Western RV organization, its business partners and customers,” said Mr. Doyle. “Monomoy will provide substantial capital and management expertise for Western RV and help us successfully launch our 2007 product line. This is great news for our current and prospective dealer partners.”

Bob Lee, a 40-year industry executive and founder of the premium motor home manufacturer Country Coach, Inc., will invest in the acquisition and become Chairman of the Board of Directors. Richard Fish, a Monomoy operating partner with over 20 years of management experience in the RV industry, will become the Company’s chief restructuring officer. “Western RV is a quality company, and I look forward to working alongside my longtime friend and colleague Ron Doyle to realize the company’s full potential as a highline manufacturer,” commented Mr. Lee.

The acquisition of Western RV is a first step for Monomoy in creating a presence in the RV industry. “We are excited by the opportunity to enter the RV industry with a well-established brand and a strong management team,” said Philip Von Burg, a Monomoy principal. “The addition of industry experts Bob Lee and Richard Fish will help Western RV focus on operational improvement while creating substantial value for our dealers and customers. We look forward to growing Western RV into a meaningful player in this $14 billion dollar industry.”

With this announcement, Western RV will be entering the industry’s annual trade event in Louisville, Kentucky from November 28 through November 30.

About Monomoy Capital Partners, L.P.

Monomoy Capital Partners, L.P. is a private equity fund that makes controlling investments in middle market companies that require operational or financial restructuring. Monomoy targets fundamentally sound businesses with revenues less than $200 million and acquires businesses through bankruptcy, out-of-court restructurings, corporate divestitures and other complex transactions.

Western RV is Monomoy’s sixth transaction in the past 16 months in the smaller end of the middle market. For additional information, please go to www.mcpfunds.com.