Shares of Lazydays Holdings, Inc. (NASDAQ: LAZY) experienced a noteworthy ascent of 12.19%, concluding the Wednesday trading session at $7.18. This surge was catalyzed by the disclosure of insider activities carried out earlier in the week.
Coliseum Capital Management, holding a 10% stake in Lazydays (LAZY), acquired a total of 232,373 shares. These transactions, executed in three installments from Monday to Wednesday, saw the 10% owner secure LAZY shares at an average price of $6.4033 per share. The firm invested a substantial sum of $1,511,032 in LAZY, augmenting its stake in the company.
In a recent strategic move, Lazydays successfully acquired Orangewood RV Center, an RV dealership situated in Surprise, Arizona. The establishment has been rebranded as “Lazydays RV of Phoenix at Arrowhead,” marking the 24th addition to its expansive nationwide network and fortifying its foothold in the Western region. LAZY anticipates estimated annualized revenue of $40 million from the new store.
Notably, in 2023 alone, Lazydays has completed five acquisitions and established three greenfield locations, collectively anticipated to yield over $300 million in annualized revenue. The location will persist in offering a premium selection of new inventory from renowned brands such as Grand Design, Keystone, KZ, and Starcraft.
Through the acquisition of Orangewood RV and its proficient team, LAZY was aiming enhancing the accessibility, variety, and top-tier RV choices available to its esteemed clientele in Arizona.
Furthermore, Lazydays recently entered into an exclusive national partnership with Bowlus, a global leader in high-performance luxury recreational vehicles. This strategic inclusion of Bowlus in its product portfolio solidifies Lazydays’ standing as the most comprehensive luxury dealership in the RV industry.
By extending their reach to five additional locations, Bowlus ensures an unparalleled white-glove sales and service experience for its luxury products. Each of the five Bowlus locations has been specifically crafted to provide an exclusive sales and service experience at every Lazydays campus.
These facilities will showcase the complete range of Bowlus RVs, including the Terra Firma and Volterra, with the Heritage set to join in late 2024. This groundbreaking partnership is a first in the industry, designating Lazydays as the exclusive nationwide dealer of Bowlus RVs, with plans for further expansion in 2024.
