Aussie Traveller acquires Camec for $9.5 million
Established brands come together to create leading caravan and outdoor products supplier in Australia and New ZealandFleetwood Australia has sold its Camec RV parts business to Aussie Traveller, officially ending five decades of involvement in the Australian caravan industry.
In a statement the ASX-listed company said Aussie Traveller is acquiring its Camec/RV Solutions business for $9.5 million on a cash-free, debt-free basis. The sale will be completed on September 1.
“The exit of RV Solutions is an important step in Fleetwood’s strategy to optimise its portfolio and to focus capital and management attention on its core businesses," Fleetwood Chief Executive Officer, Andrea Pidcock said.
"Aussie Traveller is a respected business in the caravan and recreational vehicle industry and is well positioned to continue supporting Camec’s customers and suppliers.”
On the same day Fleetwood also announced it had entered into an agreement to acquire Red Dog Village, a large-scale Transient Worker Accommodation (TWA) facility located in Gap Ridge, Karratha, from Bechtel for $20m plus GST.
Fleetwood has now cut all ties with the Australian caravan industry after being a major player up until around 10-15 years ago. The company built many thousands of Coromal and Windsor caravans from the 1970s, before selling both brands for $1 million to Apollo (now THL) in 2018.
Camec dates back to the early 1960s, and supplies caravan products, appliances and parts to OEM, trade and retail buyers.
Established in 1988, Aussie Traveller also supplies a wide range of components and accessories to the Australian and New Zealand caravan and outdoor industries, including being an official distributor of Thule products.
“This is an important milestone in Aussie Traveller’s journey to creating Australia and New Zealand’s leading supplier of outdoor components and accessories," Aussie Traveller CEO, James Barallon said.
"Bringing these two businesses together means a broader range, more stock, and further product innovation that will allow us to deliver the best possible products and service to our valuable customers.”
Related: End of an era for original Windsor manufacturer
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