Follow-on Offering

Industrial
Follow-on Offering

Summary

Baird served as a co-manager on this offering

About

Camping World Holdings, Inc. (“Camping World” or the “Company”) (NYSE: CWH), a portfolio company of Crestview Partners (“Crestview”), recently completed a follow-on offering of its Class A common shares at a price of $27.75 per share, generating gross proceeds of approximately $263.6 million, which includes 4,000,000 shares of Class A Common Stock offered by Camping World and 5,500,000 shares of Class A Common Stock offered by certain affiliates of Crestview (collectively, the “Selling Stockholders”). Additionally, the Company and the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an aggregate of 1,425,000 additional shares of Class A Common Stock. The proceeds of the primary portion of the offering will be used by Camping World to purchase 4,000,000 common shares directly from CWGS Enterprises, LLC (“CWGS, LLC”), a subsidiary of CWH. CWGS intends to use the net proceeds from the sale for general corporate purposes, including the funding of the acquisition of certain assets of Gander Mountain Company and its Overton’s, Inc. boating business, including the related re-opening and initial working capital needs of the Company’s current goal to operate 70 or more retail locations.

Camping World Holdings, Inc. is the only provider of a comprehensive portfolio of services, protection plans, products and resources for recreational vehicle (“RV”) enthusiasts. Through its two iconic brands, Camping World and Good Sam, the Company offers new and used RVs for sale, vehicle service and maintenance along with more than 10,000 products and services through its retail locations and membership clubs. Good Sam branded offerings provide the industry’s broadest and deepest range of services, protection plans, products and resources while the Camping World brand operates the largest national network of RV-centric retail locations in the United States through 126 retail locations in 36 states and an e-commerce platform. With both brands founded in 1966, product and service offerings are based on 50 years of experience and customer feedback from RV enthusiasts. Camping World is headquartered in Lincolnshire, Illinois.

Crestview was founded in 2004 and is a private equity firm focused on the middle market. Crestview manages funds with over $7 billion of aggregate capital commitments and is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview's senior investment professionals primarily focus on sourcing and managing investments in each of the specialty areas of the firm: media, energy, financial services, and industrials. Crestview is headquartered in New York, New York.
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Industrial
Follow-on Offering
Date
May 2017
Company
Camping World Holdings, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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