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Camping World to Acquire 7 Lazydays Dealerships in $200M Revenue Expansion Deal | CWH Stock News

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Camping World to Acquire 7 Lazydays Dealerships in 0M Revenue Expansion Deal | CWH Stock News





Camping World Holdings (NYSE: CWH) has agreed to acquire seven dealerships from Lazydays Holdings for a transaction valued at book value, with an estimated net cash outlay of $10-20 million. The acquisition includes locations in Phoenix, Nashville, Milwaukee, Council Bluffs, Elkhart, Portland, and Vancouver. These locations generated nearly $200 million in trailing twelve-month revenue and focus on traditional RV products from brands like Grand Design, Thor, and Forest River. Instead of goodwill consideration, Camping World will receive 9.7 million shares of Lazydays Holdings common stock upon closing. The combined market within a 50-mile radius of these dealerships represents 65,000+ new and used RV units sold annually.

Camping World Holdings (NYSE: CWH) ha concordato di acquisire sette concessionarie da Lazydays Holdings per una transazione valutata al valore di libro, con un esborso netto di cassa stimato tra i 10 e i 20 milioni di dollari. L’acquisizione include sedi a Phoenix, Nashville, Milwaukee, Council Bluffs, Elkhart, Portland e Vancouver. Queste sedi hanno generato quasi 200 milioni di dollari di fatturato negli ultimi dodici mesi e si concentrano su prodotti RV tradizionali di marchi come Grand Design, Thor e Forest River. Invece di un compenso per avviamento, Camping World riceverà 9,7 milioni di azioni ordinarie di Lazydays Holdings al momento della chiusura. Il mercato combinato entro un raggio di 50 miglia da queste concessionarie rappresenta oltre 65.000 unità RV nuove e usate vendute annualmente.

Camping World Holdings (NYSE: CWH) ha acordado adquirir siete concesionarios de Lazydays Holdings por una transacción valorada al valor en libros, con una salida de efectivo neta estimada entre 10 y 20 millones de dólares. La adquisición incluye ubicaciones en Phoenix, Nashville, Milwaukee, Council Bluffs, Elkhart, Portland y Vancouver. Estas ubicaciones generaron casi 200 millones de dólares en ingresos acumulados durante los últimos doce meses y se centran en productos RV tradicionales de marcas como Grand Design, Thor y Forest River. En lugar de una consideración de plusvalía, Camping World recibirá 9,7 millones de acciones ordinarias de Lazydays Holdings al cierre. El mercado combinado en un radio de 50 millas de estos concesionarios representa más de 65,000 unidades RV nuevas y usadas vendidas anualmente.

캠핑 월드 홀딩스 (NYSE: CWH)는 Lazydays Holdings로부터 7개의 대리점을 인수하기로 합의했으며, 거래 가치는 장부 가치에 따라 책정되며, 예상되는 순 현금 지출은 1천만 달러에서 2천만 달러 사이입니다. 인수에는 피닉스, 내슈빌, 밀워키, 카운실 블러프스, 엘카트, 포틀랜드, 밴쿠버의 위치가 포함됩니다. 이러한 장소는 최근 12개월 동안 거의 2억 달러의 수익을 창출했으며, Grand Design, Thor 및 Forest River과 같은 브랜드의 전통적인 RV 제품에 중점을 두고 있습니다. 캠핑 월드는 영업권에 대한 고려 대신 Lazydays Holdings의 보통주 970만 주를 인수 시점에 받을 것입니다. 이 대리점의 반경 50마일 이내의 통합 시장은 매년 65,000대 이상의 신규 및 중고 RV가 판매됩니다.

Camping World Holdings (NYSE: CWH) a accepté d’acquérir sept concessionnaires de Lazydays Holdings pour une transaction évaluée à valeur comptable, avec un décaissement net en espèces estimé entre 10 et 20 millions de dollars. L’acquisition comprend des emplacements à Phoenix, Nashville, Milwaukee, Council Bluffs, Elkhart, Portland et Vancouver. Ces emplacements ont généré près de 200 millions de dollars de revenus sur les douze derniers mois et se concentrent sur des produits de camping-car traditionnels de marques telles que Grand Design, Thor et Forest River. Au lieu d’une prime de goodwill, Camping World recevra 9,7 millions d’actions ordinaires de Lazydays Holdings lors de la clôture. Le marché combiné dans un rayon de 50 miles autour de ces concessionnaires représente plus de 65 000 unités de camping-cars neuves et d’occasion vendues chaque année.

Camping World Holdings (NYSE: CWH) hat zugestimmt, sieben Händler von Lazydays Holdings für eine Transaktion zu erwerben, die zum Buchwert bewertet wird, mit einem geschätzten Netto-Cashflow von 10 bis 20 Millionen Dollar. Die Übernahme umfasst Standorte in Phoenix, Nashville, Milwaukee, Council Bluffs, Elkhart, Portland und Vancouver. Diese Standorte erzielten in den letzten zwölf Monaten fast 200 Millionen Dollar Umsatz und konzentrieren sich auf traditionelle Wohnmobilprodukte von Marken wie Grand Design, Thor und Forest River. Anstelle einer Goodwill-Bewertung wird Camping World bei Abschluss 9,7 Millionen Aktien der Lazydays Holdings erhalten. Der kombinierte Markt im Umkreis von 50 Meilen um diese Händler stellt über 65.000 neue und gebrauchte Wohnmobile dar, die jährlich verkauft werden.

Positive


  • Acquisition adds $200 million in trailing twelve-month revenue


  • Strategic expansion into seven new locations across key markets


  • Access to 65,000+ annual RV unit sales market within dealerships’ radius


  • Low cash outlay of $10-20 million for the acquisition


  • Immediate conversion of F&I offices to Good Sam Business Centers


Negative


  • Revenue generation during ‘trough RV market’ conditions


  • Additional operational costs from managing seven new locations


Insights


This strategic acquisition marks a significant expansion for Camping World, targeting $200 million in additional revenue from seven dealerships acquired at book value. The deal structure is notably efficient, requiring only $10-20 million net cash outlay after financing, while gaining equity exposure through 9.7 million shares of Lazydays stock instead of paying goodwill.

The locations’ focus on towable RVs and traditional product mix from major manufacturers aligns with current market demands. The combined market opportunity of 65,000+ units annually within these locations’ radius presents substantial growth potential. The immediate conversion of F&I offices to Good Sam Business Centers should drive additional revenue through cross-selling opportunities and enhanced service offerings.

The timing of this acquisition during a trough RV market could prove advantageous, potentially allowing CWH to capture market share at favorable valuations while positioning for an eventual market recovery.

The geographic distribution of these acquisitions strengthens Camping World’s presence in key markets, particularly in high-growth regions like Phoenix and Nashville. The strategic placement in RV-friendly markets with established customer bases reduces market entry risks while providing immediate revenue contribution.

The transaction’s structure demonstrates smart capital allocation – minimizing immediate cash outlay while maintaining upside potential through equity ownership. This approach preserves capital flexibility during a challenging market cycle while securing valuable distribution points for both traditional RV products and Good Sam services.

The focus on towable RVs is particularly noteworthy as this segment typically shows more resilience during economic downturns due to lower price points and operating costs compared to motorized RVs.












Towable Centric Locations Generated Nearly $200 Million of TTM Revenue

LINCOLNSHIRE, Illinois–(BUSINESS WIRE)–
Camping World Holdings, Inc. (NYSE: CWH) (“Camping World” or “Company”), the World’s Largest Recreational Vehicle Dealer, today announced that it has entered into an agreement to acquire the assets and certain real estate of seven dealerships from Lazydays Holdings, Inc. The Company estimates the transaction to be valued at approximately book value, with an estimated total net cash outlay of between $10 million to $20 million after expected proceeds from normal course third-party real estate financing. In lieu of goodwill consideration, Camping World has elected to maximize its optionality by having the deposit on the transaction convert to 9.7 million shares of Lazydays Holdings, Inc. common stock upon closing of the transaction following receipt of necessary regulatory approvals.

Camping World estimates that the seven locations generated nearly $200 million of revenue on a trailing twelve-month basis, during a trough RV market. These locations carry a more traditional mix of travel trailer, fifth wheel, class B and class C product from top OEM brands including Grand Design, Thor and Forest River. The Company estimates that the market size within a 50-mile radius of each dealership is a combined 65,000 plus new and used RV units sold annually, representing strategic market share growth opportunities for Camping World.

Marcus Lemonis, Chairman and CEO of Camping World, commented, “These seven locations bring top OEM brands, incremental market share opportunity, and a more traditional RV product mix that align with our strategic priorities. We are adding distribution points for our contract manufactured offerings and Good Sam suite of products, with F&I offices immediately converting to Good Sam Business Centers upon close. We expect to continue to capitalize on today’s robust dealership M&A environment.”

Camping World intends to acquire and operate the following Lazydays Holdings, Inc. locations:

  1. Surprise, AZ (Phoenix)

  2. Murfreesboro, TN (Nashville)

  3. Sturtevant, WI (Milwaukee)

  4. Council Bluffs, IA

  5. Elkhart, IN

  6. Portland, OR

  7. Woodland, WA (Vancouver)

Individuals interested in applying for a position with Camping World may visit http://www.campingworldjobs.com/.

About Camping World Holdings, Inc.

Camping World Holdings, Inc., headquartered in Lincolnshire, IL, (together with its subsidiaries) is the world’s largest retailer of RVs and related products and services. Through Camping World and Good Sam brands, our vision is to build a business that makes RVing and other outdoor adventures fun and easy. We strive to build long-term value for our customers, employees, and stockholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers along with the industry’s most extensive online presence and a highly trained and knowledgeable team of associates serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of highly specialized services and plans, including roadside assistance, protection plans and insurance, uniquely enables us to connect with our customers as stewards of an outdoor and recreational lifestyle. With RV sales and service locations in 43 states, Camping World has grown to become the prime destination for everything RV. For more information, visit www.CampingWorld.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements other than statements of historical facts contained in this press release may be forward-looking statements including statements about the expected impact on financial statements, the regulatory approval process, the timing of the closure of and benefits from the announced acquisitions, future market position, and product offerings at future locations. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘anticipates,’’ ‘‘could,’’ ‘‘intends,’’ ‘‘targets,’’ ‘‘projects,’’ ‘‘contemplates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘predicts,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including the risk that the acquisitions may not close on the timeline expected or at all, as well as the other important risks described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2023. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.

Brett Andress

InvestorRelations@campingworld.com

Media Outlets:

PR-CWGS@CampingWorld.com

Source: Camping World








FAQ



How much revenue did the seven Lazydays locations generate that Camping World (CWH) is acquiring?


The seven locations generated nearly $200 million in revenue on a trailing twelve-month basis.


What is the purchase price for Camping World’s (CWH) acquisition of seven Lazydays locations?


The transaction is valued at book value with an estimated net cash outlay of $10-20 million after expected proceeds from normal course third-party real estate financing.


Which locations is Camping World (CWH) acquiring from Lazydays?


Camping World is acquiring locations in Surprise, AZ (Phoenix); Murfreesboro, TN (Nashville); Sturtevant, WI (Milwaukee); Council Bluffs, IA; Elkhart, IN; Portland, OR; and Woodland, WA (Vancouver).


What brands will Camping World (CWH) sell at the acquired Lazydays locations?


The locations will carry traditional RV products including travel trailers, fifth wheels, class B and class C products from top OEM brands including Grand Design, Thor and Forest River.





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