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 trailer from private owners anywhere in Australia.
The Australian Financial Review reported that Apollo spent $1.75 million acquiring a 25% stake in Camplify, set up in 2014 with original backers including the NRMA road motorists organization and Artesian Capital.
Apollo chief executive Luke Trouchet said the deal gave the company a serious position in an emerging growth area which may in the future be a disrupter of its own business model.
“We’ve got a seat at the table. There is potential for disruption but we’re not seeing any of it at the moment,” he said.
Apollo also announced an acquisition of a traditional RV retail business Sydney RV, for which it also paid $1.75 million. It has bought 100% of Sydney RV, which is one of the biggest retail outlets for new and used RVs in Sydney, selling 900 units during 2015-16 along with a range of accessories.
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