Motorhome renter going public
Apollo Motorhomes has announced that it intends to make a stock market entry on the Australian ASX on 4 November 2016 with the aim of raising AUD50m for debt reduction and growth capital. The company offers rentals in Australia, New Zealand, US and Canada.
If successful, this would place the company's market capitalisation at almost AUD145 million.
The company was founded in 1985 by Gus and Carolyn Trouchet and is now owned by sons Luke Trouchet and Karl Trouchet, who are chief executive and finance chief respectively. The sale would leave just under two thirds of the company in family hands.
Growth in recent years has been impressive with revenue increasing from AUD109 million in 2014 to almost AUD156 million this year. The prospectus forecasts revenue in 2017 at AUD183 million with EBITDA at AUD48.7 million.
Whereas the motorhome market is growing with increased interest from tourists however there is increasing competition from companies offering private rentals such as Share a Camper whilst potential fuel hikes have a tradition of putting people of motorhome rentals. Furthermore Apollo is very dependent on its suppliers such as Winnebago and Adria.