Lazydays expands
Florida RV retailer buys Anoka firm
Florida-based Lazydays Holdings, led since 2016 by a veteran Minnesota executive, has acquired Shorewood RV Center in Anoka.
The Shorewood RV deal, terms of which were not disclosed, marks Lazydays' expansion into the Midwest.
"Shorewood RV established a loyal following since its founding in 1999, and we intend to keep everything customers love — from its dedicated team to its full range of services and top RV brands — while adding our signature benefits and offerings…" said CEO William Murnane.
Lazydays, which says it is home to the world's largest recreational dealership, is based on 126 acres outside Tampa.
Murnane, a board member who took over as CEO in late 2016, took the company public recently through a merger with a publicly-held shell company, and raised debt and equity capital to fuel expansion. It's valued at about $75 million.
In 2009, Wayzata Investment Partners acquired Lazydays. Murnane, 55, was a partner in the private-equity firm. He has beeen commuting to the Florida job.
On Friday, Lazydays reported a decrease in six-months earnings to $4.9 million on slightly increased revenue for the first half of the year of $340 million.
