News

Australian campervan hire company Camplify has entered into an agreement to acquire brands Mighway and SHAREaCamper from New Zealand company Tourism Holdings Limited (thl). The deal is estimated to be worth about AUS $7.37 million and will also see additional commercial agreements between Camplify and thl that will help form a strategic relationship between the two companies. thl will provide managed services to CamplifyRV owners and the two companies will work together on opportunities to grow both Camplify and thl’s RVSC business.

Grant Webster, thl chief executive officer, said: “This transaction ensures that thl maintains a presence in the peer-to-peer sector in New Zealand, and benefits from the scale that Camplify has achieved in Australia.

“We will be able to continue to leverage the benefits of the RV owner network for the thl RVSC sales, service and retail businesses, while minimising the financial risks to thl.”

Camplify CEO and founder Justin Hales added: “We’re excited about the opportunities that will be created by establishing a relationship between our companies. This acquisition delivers Camplify a strategic and targeted growth opportunity in two of our key markets that complements our growth and enables the benefit of thl joining our share register.”

The sale is expected to complete on 30 November 2021 and is conditional on approval being obtained for the assignment of Mighway’s customer insurance contract to Camplify.