For many Australians and New Zealanders it’s going to be a Summer of domestic vacationing which campervan sharing platform Camplify (ASX: CHL) is readying for with the acquisition of Mighway and SHAREaCAMPER. 

With the addition of Mighway and SHAREaCAMPER from Tourism Holdings (NZE: THL), Camplify adds 900 recreational vehicles to their peer-to-peer sharing portfolio in New Zealand, making them the largest RV marketplace operating in NZ. 

“This acquisition delivers Camplify a strategic and targeted growth opportunity in two of our key markets. It solidifies our owner and consumer base for future growth, and establishes a relationship between RV-industry leaders that will leverage cross-promotional marketing benefits, and deliver value-added services to van-owners in New Zealand and Australia,” said Camplify CEO and Founder, Justin Hales. 

“The timing is ideal. Our New Zealand growth performance has already been strong, and with the expected return of unrestricted Australia and New Zealand travel, our New Zealand-based RV owners are excited about welcoming back Aussies in 2022.”

Cross-promotional opportunities will now present with Camplify able to market New Zealand packages to Australian travellers which in 2019 represented 39% of all inbound tourism in New Zealand. 

Of those Australians bound for Middle Earth, 71% elected for self-drive holidays. 

Peer-to-peer vehicle sharing has emerged as particularly popular in recent years with vehicle owners often only using their vehicles for several weeks per year. By registering their vehicles to platforms like Camplify, Mighway and SHAREaCAMPER, owners are able to secure a passive stream of income by renting their vehicles to tourists similar to how AirBnB functions. 

Total consideration of the acquisition is $7.37m which will be paid to Tourism Holdings entirely in CHL shares which will be subject to escrow for 18 months. The acquisition also restricts Tourism Holdings from operating a new peer-to-peer RV sharing marketplace for at least 5 years. 

Bottom line financials of the NZ brands were not disclosed but Camplify lists the acquisition price as a 5.46x revenue multiple for the combined COVID-19 affected FY21 results.

Since listing on the ASX in June 2021 with an IPO Offer Price of $1.42, Camplify has emerged as one of the market darlings of the year, rapidly gathering momentum alongside COVID vaccine rollouts and the easing of movement restrictions. 

As of 30 June 2021, Camplify had more than 6,100 RVs listed on their platform that generated more than 30,000 individual bookings. The total transaction value of those bookings was $32.9m of which $8.4m was retained as sales revenue for the Company. 

Following news of the Mighway and SHAREaCAMPER, CHL shares have responded very well to continue the company’s ascension up the ASX ranks to reach an all time high of $5.02 in morning trade less than five months since listing on the ASX. 

Upon completion of the acquisition, Camplify will consolidate the Mighway and SHAREaCAMPER brands to be re-badged as Camplify.