Newly-listed motorhome group Apollo Tourism & Leisure has become the biggest shareholder in Camplify, which uses a similar business model to online marketplace Airbnb to enable people to hire out a motorhome or a caravan from private owners anywhere in Australia.
Apollo has spent $1.75 million acquiring a 25 per cent stake in Camplify, set up in 2014 with original backers including the NRMA road motorists organisation and Artesian Capital.
Apollo also announced an acquisition of a traditional motorhomes and caravans retail business in Penrith in Sydney’s west, for which it also paid $1.75 million for the acquisition of 100 per cent of Sydney RV, which is one of the biggest retail outlets for new and used caravans, and motorhomes, in Sydney, selling 900 of them during 2015-16 along with a range of accessories.
Apollo, which listed on the Australian Securities Exchange in early November, 2016 after a float with an issue price of $1, has a total of 3,000 vehicles in its fleet across Australia, New Zealand and the United States.
Jones Day has advised Apollo Tourism & Leisure in the A$1.75 million acquisition of a 25% stake in Camplify Co. Pty. Ltd. and in the A$1.75 million acquisition of 100% of Sydney RV with a team led by M&A partner Brett Heading.
Involved fees earner: Brett Heading – Jones Day;
Law Firms: Jones Day;
Clients: Apollo Tourism & Leisure Ltd.;