Camping World Holdings plans to acquire seven Lazydays Holdings dealerships. The dealer chain estimated a total net cash outlay between $10 million to $20 million after expected proceeds from normal course third-party real estate financing.
Camping World elected to have a deposit on the transaction convert to 9.7 million Lazydays common stock shares upon the transaction’s close.
Camping World CEO, Chairman and President Marcus Lemonis said, “These seven locations bring top OEM brands, incremental market share opportunity and a more traditional RV product mix that align with our strategic priorities.”
The company plans to add distribution points for contract-manufactured offerings and its Good Sam Business products. The locations’ F&I offices will potentially convert to Good Sam Business Centers upon closing.
Camping World estimates that the locations generate nearly $200 million of revenue on a trailing 12-month basis. The dealerships have around 65,000 Forest River, Grand Design and Thor models.
Camping World expects to acquire Lazydays’ Council Bluffs, Elkhart, Indiana; Iowa; Murfreesboro, Tennessee; Portland; Surprise, Arizona; Sturtevant, Wisconsin; and Woodland, Washington, locations.
Lemonis said, “We expect to continue to capitalize on today’s robust dealership M&A environment.”
