As previously announced on March 15, funds and accounts managed by Coliseum Capital Management purchased $50 million of newly issued Series A Preferred Stock in Lazydays Holdings Inc. Concurrently, Chris Shackelton, co-founder and managing partner at Coliseum, has joined the Lazydays board of directors.
“Over the past eight months we have developed a strong partnership with Coliseum, extending well beyond the capital they provided,” said Bill Murnane, Lazydays CEO, in a press release. “Coliseum brings strategic and operational expertise and leadership that we believe will accelerate our growth and shareholder value creation. I anticipate this partnership will prove invaluable as we work together over the coming years to build a successful company. To that end, we are grateful to have Chris Shackelton joining our board, in addition to the collaborative working relationship we have developed with the Coliseum team.”
“I am excited to be partnered with Bill and his team as we embark on a number of compelling growth initiatives, which we believe will create significant shareholder value,” said Shackelton. “Our investment is founded on confidence in management, combined with an exceptional Lazydays brand and business model, which uniquely positions the company to transform the RV industry.”
Shackelton currently serves as chairman of Providence Service Corp. In addition to working closely with a number of private companies, he is presently a director on the public boards of BioScrip and Universal Technical Institute. Previously, he served as chairman of Rural/Metro Corp, as well as on the public boards of LHC Group, Advanced Emissions Solutions, and Interstate Hotels.