Florida-based RV Retailer LLC (RVR), an ambitious new industry player, announced yesterday (Sept. 5) that it has signed an agreement to acquire ExploreUSA Supercenter from CEO Scott Chaney and President Brian Booker, who will continue to lead the company while retaining an ownership stake in the business.
According to a press release, ExploreUSA sold approximately 5,000 RVs in 2017 and ranks as the No. 2 volume RV dealer in Texas, the nation’s top RV market, RVR reports. The company operates nine store locations in the Dallas-Fort Worth, San Antonio, Houston and Austin markets and, RVR President and CEO Jon Ferrando reported, gives RV Retailer a “tremendous presence” in the Lone Star State.
ExploreUSA will focus exclusively on towables while Motor Home Specialist, a 145-employee, single-site dealership acquired in July as RVR’s first purchase, continues to serve as one of the industry’s leading motorhome dealers, said Ferrando.
“We are excited to partner with Scott Chaney, Brian Booker and the entire ExploreUSA management team to continue its run as a premier RV towable dealer in Texas,” Ferrando told RV Business. “We also welcome ExploreUSA’s 340 dedicated associates to the RV Retailer family. They provide an exceptional experience to the thousands of customers that purchase and service their RVs at ExploreUSA every year. We will continue to operate the business under the ExploreUSA retail brand name.”
“We are excited to add the high-quality, premium RV product mix offered by ExploreUSA in excellent markets across Texas,” he added. “ExploreUSA’s exclusive focus on towable RVs perfectly complements our Motor Home Specialist business in Texas. Combined, ExploreUSA and Motor Home Specialist are expected to generate approximately $500 million of revenue in 2018.”
RV Retailer, founded earlier this year by former AutoNation Inc. executives including Ferrando and Executive Vice President and CFO John Rizzo together with Redwood Capital Investments, has been open about its plans for creating “one of the leading recreational vehicle retail companies in the United States” with stores in RV markets well beyond the Sun Belt and Texas.
Having said that, Ferrando added, ExploreUSA is an attractive acquisition because “it’s an extremely well run business with a great growth track record” well positioned geographically with a strong brand name, management team, workforce and customer culture.
“I look forward to partnering with Jon Ferrando and the RV Retailer team as we look to continue growing ExploreUSA,” said Chaney. “Collectively, we are in a great position to capitalize on significant growth opportunities for the business while providing excellent career opportunities for our associates. I also look forward to continuing our outstanding relationships with our valued RV manufacturer partners.”
“We look forward to working with Scott and Brian and the whole ExploreUSA management team through this transition” noted Rizzo. “We expect to complete the transaction early in the fourth quarter 2018, following manufacturer approvals and other customary conditions to closing.”