SF Closes Acquisition of Midwest Outdoor Resorts for Travel Resorts of America

Southern Pines, North Carolina — Travel Resorts of America (www.travelresorts.com) is pleased to announce the acquisition of Midwest Outdoor Resort.  Midwest Outdoor Resorts includes 5 private membership resorts located in Minnesota and South Dakota.  The company incorporates 450 acres across those 5 locations, with 576 sites and 72 cabins, and boasts a membership of 5,500 members.

Travel Resorts of America is one of the leading companies in the private membership RV resort industry. TRA’s resorts are located within the Eastern United States at scenic locations including the Mohican River in Ohio and the Gettysburg Battlefield Resort adjacent to the Mason-Dixon Line in Pennsylvania.  Founded in 1986 with one resort in North Carolina, the Company has grown through progressive acquisitions of new resort locations and currently owns 14 luxury RV resorts with over 22,000 members and growing.

In addition to the Company’s 14 properties, TRA provides its members access to a nationwide network of over 600 resort campgrounds, including 300 affiliated private resorts and over 300 public campgrounds in the United States, Canada, and Mexico.

Financing for the acquisition was facilitated through Bremer Bank (https://www.bremer.com/) and Liberty Bank (https://www.liberty-bank.com/).

Scale Finance Managing Director Gerhard Renner, who also serves as Travel Resorts Chief Strategy Officer, advised Travel Resorts on this strategic growth acquisition from beginning to end. Terms of the transaction were not disclosed.

About Bremer Bank

Bremer Bank has roots in the places where we live and work that go back to 1943, and a history of stepping up for our customers and communities that begins with our founder. Otto Bremer believed that if banks helped businesses in good times and bad, communities would thrive. Today, we’re proud to work with the people who grow our food, build our economy, and serve our neighbors. We offer banking, mortgage, investment, wealth management, trust and insurance in Minnesota, North Dakota and Wisconsin. We’re here to help you solve your toughest problems, seize your biggest opportunities, and achieve success on your terms, now and in the future.

About Liberty Bank

Established in 1825, Liberty Bank is one of the oldest and largest mutual banks in the country. With more than $7 billion in assets, Liberty has 56 banking offices across Connecticut and one in Massachusetts. As a full-service financial institution, Liberty offers consumer and commercial banking, cash management, home mortgages, business loans, insurance and investment services. Named ‘Top Workplace’ by the Hartford Courant every year since 2012 and designated a 2021 Best-In-State Bank in Connecticut by Forbes Magazine, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement.

About Scale Finance

Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance has multiple offices in the Carolinas including Charlotte, Raleigh/Durham, Greensboro, and Wilmington with a team of more than 45 professionals serving more than 130 companies throughout the region.