Story image

Tourism Holdings acquires 49% stake in UK's Just Go motorhome business

19 Mar 15

Tourism Holdings, the largest campervan rental business in Australia and New Zealand, said it acquired 49 percent of UK-based Just Go, a motorhome rentals and sales business.

The Auckland-based company said the price wasn't material and wouldn't be disclosed. Founders of Just Go, Nick and Sarah Roach, would retain a controlling 51 percent stake and continue to manage the business, which operates 130 motorhomes at peak season.

"Just Go has a similar model and return on capital as our successful Road Bear RV business in the USA," said chief executive Grant Webster. "There are good synergies with THL and we are positive about the growth opportunities."

Just Go had a "very flexible" business model and its fleet was typically only rented fro 18 months before being sold, he said. "We also see a good opportunity to bring some of the Just Go vehicles to New Zealand to extend our range for sale.

Daniel Schneider, who was the founder and operator of Road Bear, will become a director of Just Go, Webster said.

Last month, THL posted first-half profit that more than doubled, beating guidance, after the company cut costs. The company affirmed its December guidance of annual profit to be at least $17 million. That's higher than its November range of between $15 million and $16 million, which was itself an upgrade, and would be at least 53 percent higher than the $11.1 million it recorded in 2014.

The shares rose 0.6 percent to $1.75 and have declined 3.3 percent this year.

Report finds GCSB in compliance with NZ rights
The Inspector-General has given the GCSB its compliance tick of approval for the fourth year in a row.
Preparing for e-invoicing requirements
The New Zealand and Australian governments are working on a joint approach to create trans-Tasman standards to e-invoicing that’ll make it easier for businesses in both countries work with each other and across the globe
5c more per share: Trade Me bidding war heats up
Another bidder has entered the bidding arena as the potential sale of Trade Me kicks up a notch.
Hootsuite's five social trends marketers should take note of
These trends should keep marketers, customer experience leaders, social media professionals and executives awake at night.
Company-X celebrates ranking on Deloitte's Fast 500 Asia Pacific
Hamilton-based software firm Company-X has landed a spot on Deloitte Technology’s Fast 500 Asia Pacific 2018 ranking - for the second year in a row.
Entrepreneur reactivates business engagement in AU Super funds
10 million workers leave it up to employers to choose their Super fund for them – and the majority of employers are just as passive and unengaged at putting that fund to work.
Tether: The Kiwi startup fighting back against cold, damp homes
“Mould and mildew are the new asbestos. But unlike asbestos, detecting the presence – or conditions that encourage growth – of mould and mildew is nearly impossible."
Capitalising on exponential IT
"Exponential IT must be a way of life, not just an endpoint."