Camplify acquires SHAREaCAMPER and Mighway as NZ Border reopens

Justin Hales, the Chief Executive Officer at Camplify

Camplify Holdings Limited (ASX: CHL) is pleased to announce that the planned acquisition of Mighway and SHAREaCAMPER from Tourism Holdings Limited (THL) has now been completed.

What are the highlights of the acquisition deal?

  • 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 their platform.

  •  The SHAREaCAMPER operations in Australia have also been acquired in the transaction adding an additional 100 plus listings in Australia to the Camplify platform.

  •  In a pre-COVID environment, Mighway and SHAREaCAMPER (SaC) achieved a volume of $7.8 million GTV and $2.7 million revenue (still subject to audit) for FY19 .

  • Camplify will migrate all customers to the Camplify platform.

  • Camplify will consolidate in New Zealand the platform, brands and operations of Mighway and SaC, into the Camplify core operations, and expects synergies to scale the platform.

  • The core team, which consists of only 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 SHAREaCAMPER and Mighway has with Tourism Holdings Limited (THL) in both Australia and New Zealand.

  • 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 months time. The shares will be subject to an escrow period of 18 months.

What is the status of the New Zealand RV market?

  • New Zealand opened to vaccinated Australians on the 12th of April 2022.

  • New Zealand opens to vaccinated visitors from visa waiver countries, and visitors from other countries who already hold a valid visitor visa on the 1st of May 2022.

  •  Pre-Covid-19, Australia represented over 39% of all tourists in the NZ market (2019).

  • 71% of Australian travellers opted for self-drive holidays in New Zealand.

  • Visitors from Australia returned to New Zealand 3-4 times in their lifetime, on average.

  •  60% of Australians are actively considering or express a willingness to holiday in New Zealand within only 6 months of international borders opening.

  • The two leading RV rental fleet operators (Tourism Holdings Limited (THL) & Apollo Tourism – ATL) reported a combined over $125m (GTV) in NZ bookings in FY19.

  • These two operators (Tourism Holdings Limited (THL) & Apollo Tourism – ATL) have reduced their New Zealand rental fleet by a combined 1045 since FY19.

What is the impact of border restrictions being lifted?

Camplify is already seeing an increase in interest and booking requests from Kiwis heading to Australia and Aussies heading to New Zealand now that the borders have reopened.

The demand for caravan, campervan and motorhome rentals is growing with the support of the domestic market in NZ and the incoming international arrivals which have begun for vaccinated tourists from visa-waiver countries. This puts Camplify in a strong position.

Now that there are fewer restrictions on international arrivals, we are starting to see an influx of interest from other global visitors like Israel, UK and Canada, so it’s a great for Camplify to capitalise on this and increase the number of van owners on the Camplify platform in NZ.

Camplify CEO and Founder Justin Hales said: “We welcome Mighway and SHAREaCAMPER owners, travellers and team to the global Camplify community. We are looking forward to delivering our existing and new van owners new rental revenue opportunities. Our message to all van owners is simple – join Camplify and let your van generate an income for you.”

“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.”