Lately, we’ve been hearing a common refrain from dealers: “Is now even a good time to sell?” or “Aren’t buyers pulling back with rates where they are?” And I get it. There’s a lot of noise out there right now. Market uncertainty, interest rate headlines, and industry consolidation fatigue can make it seem like the music has stopped.
But here’s the truth: it hasn’t.
The RV dealership M&A market is far from cold. It’s just more selective. And that distinction matters, a lot.
The number of active, well-capitalized buyers remains strong, especially among private equity backed platforms and regional consolidators looking to scale efficiently. These groups aren’t waiting for interest rates to drop. They’re actively pursuing growth, but with tighter criteria and greater discipline. That’s not a slowdown, that’s a maturation.
In today’s market, buyers are putting a premium on operational excellence. Service absorption, leadership depth, brand diversity, top tier product lines, service expansion capability, and a good-sized property are all front and center. And if your dealership brings those elements to the table, along with clean financials, you’re not just sellable, you’re sought after.
Over the past year, we’ve continued to see strong buyer interest and solid valuations across a range of dealership profiles. Deals are happening, they’re just not always making headlines. Many are intentionally quiet, negotiated directly, and structured thoughtfully to preserve both the legacy of the seller and the strategic goals of the buyer.
So, what’s really changed?
- Higher interest rates have made buyers more disciplined.
They’re still acquiring, but the bar has been raised. Cash flow consistency, working capital efficiency, and lease flexibility now carry more weight in valuation conversations. Buyers are asking tougher questions, but they’re still writing checks when the answers are compelling. - There’s more noise in the market.
If you’re relying on press releases or trade show chatter to measure activity, you’re missing the bigger picture. The best deals often happen off market. Relationships, timing, and preparation are what drive today’s successful transactions, not public bidding wars.
As someone who’s been in and around this industry for over three decades, I can tell you that M&A isn’t slowing, it’s evolving. And that evolution favors prepared, thoughtful sellers.
If you’re a dealership owner thinking about succession, retirement, or simply weighing your options, don’t let the headlines scare you off. Instead, start preparing now. Get your financials cleaned up. Evaluate your fixed ops performance. Take a hard look at your real estate flexibility. Talk to your leadership team about continuity. And most importantly, find the right advisor to help you assess your options.
Because the buyers? They’re still out there. They’re still interested. And they’re still buying, especially when the opportunity is right.
If you’re wondering whether your dealership would attract interest in today’s environment, reach out (www.rvbs.com). We’re always happy to give you the real story, no pressure, no sales pitch. Just a conversation grounded in reality.
Let’s keep building this industry forward, one smart deal at a time.
Roger L. Nuttall served as President of Camping World, Inc. from January 2011. Prior to that, he was the Chief Operating Officer of FreedomRoads, LLC from January 2009 to January 2011, and the Executive Vice President and Chief Financial Officer of FreedomRoads, LLC from November 2003 to December 2015. From 1981 to 1983, Mr. Nuttall was a partner at McKay, Nuttall, and Reid, an accounting and consulting firm. Before that, he held various staff and management positions at Grant Thornton LLP from 1974 to 1981. From 1983 to 2003, Mr. Nuttall served as Chief Financial Officer and board member of Blaine Jensen & Sons, Inc., a multi-dealership RV company. He received a B.A. from Weber State University.
Mike has almost 30 years’ experience in the Recreational Vehicle (RV) Industry and provides advisory and consulting services to clients within that industry.
Scott Degnan is the Partner and Co-founder of RV Business Solutions and President of Degnan Management Group, Inc., a consulting firm.
Dom Bookman is the Chief Operating Officer and Investor Relations lead at RV Business Solutions. With 12 years of experience in the tech industry, Dom is a serial entrepreneur specializing in business development, marketing, and growth strategies for leading brands. He has successfully piloted startups and facilitated multiple exits for early-stage companies.