SYDNEY, AUSTRALIA: Camplify Holdings Limited (ASX: CHL) has bought Mighway and SHAREaCAMPER from Tourism Holdings Limited (THL).
THL received 1,059,162 CHL shares at an agreed shared price of $3.34 per share in the first tranche. The remaining tranche of between 1,147,424 and 2,639,201 CHL shares will be paid in 12 month time. The shares will be subject to an escrow period of 18 months.
Camplify (ASX: CHL) is one of Australia’s leading peer-to-peer (P2P) digital marketplace platforms connecting recreational vehicle (RV) Owners to Hirers. Camplify has built a platform that delivers a seamless and transparent experience for consumers and potential RV Hirers to connect with RV Owners and SMEs with a fleet of RVs. A wide variety of caravans and campervans are available on Camplify.
Highlights;
● Mighway and SHAREaCAMPER have been the two leading peer-to-peer platform operators in New Zealand for several years. This positions Camplify as the largest operator in the New Zealand market, and will bring an additional 800 plus vehicles to the Camplify platform in New Zealand.
● The SHAREaCAMPER operations in Australia have also been acquired in the transaction adding an additional 100 plus listings in Australia.
● In a pre-COVID environment, Mighway and SaC achieved a volume of $7.8m GTV and $2.7m revenue (unaudited)for FY19 .
● Camplify will migrate all customers to the Camplify platform.
● Camplify will consolidate in NZ the platform, brands and operations of Mighway and SaC, into the Camplify core operations, and expects synergies to further scale the business and platform.
● The core team, consisting of four employees, will be retained by Camplify to service the existing markets, and look to extend our product offering.
● Camplify will develop and extend the existing relationship that SaC and Mighway has with THL in Australia, and New Zealand.