The Apollo camper rental business which began as a single vehicle backyard operation in 1985 is about to be launched on the stock market.
The $156 million operation has launched a $50 million initial public offering as demand for vehicles from grey nomads and families continues to spiral upwards, As well as running a rental fleet of 3,000 motorhomes around Australia, New Zealand and the US, Apollo also has a thriving manufacturing and retail arm. The company has exclusive rights to manufacture Winnebago caravans and motorhomes in this country and grey nomad sales are looking extremely healthy.
“The top of the range Winnebago sells for $165,0000,” said CEO, Luke Trouchet. “People like to have freedom when they travel and not be stuck to an itinerary.”
Mr Trouchet told the Brisbane Courier-Mail that the company had come a long way since his father used his boat building skills to convert a normal van into a camper to travel around New Zealand.
Mr Trouchet said his parents later bought a pop-top camper that was rented out at weekends and used as a family vehicle during the week.
“As it continued, a small fleet of camper vans began to grow and the business started to gain real momentum,” he told the Courier-Mail. “My brother and I used to earn pocket money cleaning out the vans.”
Apollo, which has been run by Mr Trouchet and his brother Karl since 2001, has since grown into a multi-national operation with more than 300 staff in four countries and revenue of $156 million.
The pair will retain 65% of the company, worth an estimated $94 million. Apollo is scheduled to list on November 4 as Apollo Tourism and Leisure.
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