Winnebago Industries Inc. received a $322 million buyout offer from North Street Capital L.P., with the recreational vehicle maker saying it did not have sufficient information as of Friday, May 18 on whether the offer was credible.
On its website, North Street Capital states it is based in Greenwich and lists a New York City address. The Securities and Exchange Commission does not list any company under the name North Street Capital in its primary investor database online.
The company”™s managing partner is Alex Mascioli, who last September struck a $43 million deal to buy Saab”™s Spyker sports car business and reportedly pressed to buy Saab itself. On its website, North Street Capital does not list any portfolio investments it holds.
Forest City, Iowa-based Winnebago said North Street Capital is offering $11 for each share of Winnebago (NYSE: WGO), which were up 7 percent Friday afternoon to just over $9 a share.
In its fiscal second quarter ending in February, Winnebago lost $900,000 with sales up 24 percent from a year earlier to $132 million.
