HNH Group advised the shareholders of Camperco Group Limited (UK & Ireland’s leading independent motorhome rental business) on the sale to Brisbane-based Apollo Tourism & Leisure. Deal size was £6.5m made up of cash, shares and earn-out.
The founders, Keith Charlton and Louise Corken will continue to lead the business post-completion. Rationale for the deal was that Camperco plan to expand into continental Europe and Apollo, who are strong in North America and Australasia, were seeking to establish a presence in Europe, hence it made sense to join forces and do it together.
HNH also report that CECO Flooring has been acquired by Headlam Group plc for an initial £2.4 million of cash on completion, with an estimated deferred discounted consideration of £2.1 million. CECO management and shareholders Gregory Bell, Chris Turney and David Bell, who themselves acquired the business via a management buy-out ten years ago, will continue to run the business post-completion under the CECO brand. Headlam is a leading distributor of floorcoverings, operating across the UK, France, Netherlands and Switzerland and has made a number of strategic acquisitions in recent years. The acquisition of CECO expands Headlam’s presence in Northern Ireland as well as meaningfully increasing its specification-led sales channel.