Off Highway Van Joins Outdoor Adventure Group

Date

June 2025

Client

Off Highway Van (USA)

Service

Sell-Side M&A Advisory

Buyer

Outdoor Adventure Group, a TriWest Capital Partners company (Canada)

Overland, Adventure Vans and Off-Road Accessories

Bell Lap Advisors served as sell-side advisor to Off Highway Van on its sale to Outdoor Adventure Group (OAG), a portfolio company of TriWest Capital Partners.

The company

Off Highway Van (OHV) was founded in Salt Lake City in 2016. It builds adventure vans and sells them direct to consumers across the United States.

Its parts and accessories division, Dark Star Offroad, supplies branded and white-label products to OEMs and retailers.

The buyer

TriWest Capital Partners, a Canadian private equity firm, formed OAG in September 2022 by bringing together Northern Lite, Canada’s leading maker of four-season fiberglass truck campers (founded 1989 in Kelowna, BC), and Off Grid Trailers, an Edmonton-based maker of off-road trailers.

OAG is building a family of recreational vehicle brands, each a leader in its own niche.

The transaction

OHV becomes OAG’s third brand and its first based in the United States.

Together with Northern Lite and Off Grid, it gives the group a platform spanning truck campers, off-road trailers and adventure vans across Canada and the United States, sold through both dealers and direct-to-consumer channels.

Bell Lap Advisors advised Off Highway Van on the sale. Terms were not disclosed.

Why it matters

The deal shows that private equity platforms see adventure travel and overlanding as a lasting category, and value a founder-built, direct-to-consumer van brand with a parts business attached.

It follows Bell Lap’s sale of Flatline Van Co to Horsepower Automotive Group, a Huron Capital company, in 2023.

Bell Lap Advisors is a sell-side M&A advisory firm based in Bend, Oregon, focused on founder-owned companies in the bike, outdoor and consumer products sectors.