Camping World Holdings is a leading operator in the RV industry. Camping World is a multi-store dealership and retailer of RVs and outdoor accessories. Good Sam provides financing, insurance, extended warranties, roadside assistance and clubs to RV owners.
Crestview became a partner at a critical juncture. We wouldn't be where we are today without their support and leadership.Marcus Lemonis, Chairman & CEO
Investing at the right point in the cycle
Crestview invested when the RV market was still suffering the effects of the global financial crisis. Unit sales fell by almost 50% during the crisis, before improving modestly in 2010. Camping World needed to refinance near-term debt maturities in a difficult environment. We proposed a unique investment structure that met the founder's needs and gave our funds significant downside protection through structural seniority and cash interest payments.
Re-aligning the business to drive growth
Crestview unified the management team to run Camping World’s three businesses as a single company. Crestview helped management consolidate operations and divest non-core assets, which created cost savings and cross-selling revenue synergies. Crestview also helped the company with a wholesale refinancing that simplified the capital structure and reduced interest costs.
Devising a strategy to drive
In anticipation of positive macro trends, Crestview helped management design and implement an aggressive expansion strategy to exploit the company’s strong market position relative to its competitors. These efforts included new store openings, dealership acquisitions and adding new products and services focused on RV enthusiasts. The results have led to gains in market share.