Thor Industries (NYSE:THO) swung higher Friday after announcing its plan to buy privately-held towable RV maker Heartland Recreational Vehicles for approximately $200 million in cash and stock.

Heartland is currently owned by Catterton Partners, a provider of consumer-focused private equity.

Jackson Center, Ohio-based Thor, a global seller of recreation vehicles and small to mid-size buses, said it expects the acquisition to be immediately accretive to its earnings, given the recent performance of Heartland, which has seen sales grow more than $400 million over the past 12 months.

Under its new ownership, Heartland, which has been one of the nation’s fastest growing RV makers since its inception in 2003, now ranking 4th in the nation of towable RV manufacturers, will continue to operate under its current name and maintain its brand portfolio.

Brian Brady will continue to lead the company, reporting to Thor president Ron Fenech.

Brady said the new ownership will allow Heartland to access increased financial and operational resources, enabling the company to continue its “strong momentum” in the market.

Thor CEO Peter B. Orthwein said the deal will bring “many operational synergies” to the company, including purchasing and lean production processes.