Latest news with #KarlTrouchet
Wall Street Journal
12 hours ago
- Business
- Wall Street Journal
Tourism Holdings Gets $306 Million Takeover Offer From BGH-Led Consortium
SYDNEY—Recreational vehicle company Tourism Holdings said it has received a takeover offer from a private equity-led consortium worth around 508.5 million New Zealand dollars (US$306.1 million). Tourism Holdings said the consortium comprising BGH Capital and the family interests of Luke and Karl Trouchet have made an all-cash proposal worth NZ$2.30 a share. It said BGH has already acquired a 19.99% relevant interest in the company.
AU Financial Review
a day ago
- Business
- AU Financial Review
Campervan group THL gets $471m bid from private equity-led consortium
Private equity group BGH Capital and Queensland brothers Luke and Karl Trouchet have made a $471 million buyout offer for struggling campervan rentals business Tourism Holdings Ltd. THL, which is dual-listed on the New Zealand and Australian stock exchanges, has a fleet of 7200 rental campervans under brands including Britz, Maui and Apollo and a substantial business selling the vehicles.
RNZ News
a day ago
- Business
- RNZ News
Australian firm makes bid to buy Tourism Holdings, values company at over $500m
The offer of $2.30 per share to acquire all shares valued THL at $508.5 million. Photo: Unsplash / Lawton Cook Campervan company Tourism Holdings (THL) has received an acquisition offer from across the Tasman, valuing the company at more than half-a-billion dollars. The non-binding, unsolicited offer was from a consortium of Australian private equity firm BGH Capital, THL executive director Luke Trouchet and his brother Karl. The Trouchet brothers were involved with Australian campervan firm Apollo Tourism & Leisure, which merged with THL in 2022 . The offer of $2.30 per share to acquire all shares valued THL at $508.5 million, and THL said the offer on the table was either by way of a scheme of arrangement or via the Takeovers Code. THL's share price closed at $1.46 on Friday and was down 53 cents so far this year. It was also revealed that BGH had acquired just under 20 percent of THL's shares on issue. The proposal came amid a challenging period for THL - in February, the company revealed a half-year result which saw its after-tax profit fall 36 percent to $25.3m . In response to the offer, THL said it was "very aware" of its recent performance. "[The performance] has been largely influenced by factors beyond the company's control, such as the impact of poor consumer confidence on the demand for recreational vehicles, and recent geopolitical and tariff developments impacting travel sentiment," it said. THL said given Luke Trouchet's involvement in the consortium with BGH, he had taken a leave of absence from his executive role with THL. It said the offer was subject to certain conditions, including due diligence, finalisation of debt arrangements, and BGH receiving final approval from its in-house review committee. THL said shareholders did not need to take any action in relation to the offer, and the board would update the market about developments. "The board will act in what it considers to be the best interests of the company and its shareholders." Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
