Dometic Acquires Kampa

Friday, 07, Dec 2018 01:30

By William Coleman

We met the Kampa team at the October NEC Motorhome and Caravan Show and they did not get a moment's rest due to their large range of outdoor living accessories. Following on from some recent success they have now been acquired by Dometic, on December 3rd, to strengthen their already impressive portfolio.

Kampa, for those who do not know, are a fast growing outdoor leisure brand with focus on innovative awning and lightweight tent products and accessories to the outdoor living industry with a leading position in the UK.

The company is expected to report sales of £40 million and EBITDA of £7 million in 2018. Aftermarket sales account for 100% of revenue. The business operates with a small fixed asset base which requires limited Capex each year.

Kampa has an asset light set up including outsourced manufacturing and a central warehouse in the Netherlands covering the distribution across Europe. Kampa was founded in 2006 and is based in Essex, UK.

With the acquisition of Kampa, Dometic significantly broadens the Retail and Aftermarket offering in EMEA, with good potential for further expansion and profitable growth.

Retail and Aftermarket expansion has been a strategic priority for Dometic, as it offers attractive market dynamics, strong earnings potential and good opportunities for further expansion. Kampa fulfils all prerequisites that Dometic has set for acquired expansion, with proven profitable growth, leading market positions and strong management.

"I am pleased to welcome Kampa and its employees to Dometic. The acquisition is part of our strategy of strengthening our aftermarket position through complementary products and strong market presence. Kampa complements our product portfolio and strengthens our global offer to make Dometic even more relevant to our current and future customers, "says Juan Vargues, President and CEO of Dometic.

"We are today the market leader in inflatable awning room and tent technology in the UK, with a clear focus on easy use for our customers. In Dometic we have found an incredibly good home where we can build and accelerate our international expansion," says Myles Salmon, Managing Director at Kampa.

Under the terms of the agreement, Dometic pays a cash purchase price of £50 million for Kampa on a cash and debt free basis. In addition, there is a maximum earn-out element of £8.5 million based on delivery of financial targets in 2019 and 2020.

The transaction is immediately accretive to Dometic's operating margin and EPS. Synergies are expected to be limited.

The acquisition is fully financed via cash on hand. Leverage will be impacted with around 0.1x. Dometic maintains its financial leverage target (net debt / EBITDA) of around 2x. Dometic intends to maintain its dividend policy to distribute at least 40 percent of net profit.

Comments - What do you think?
Related stories

The Diverse World Of Caravan Awnings

Caravans are the perfect way to travel in comfort and on your own terms. Taking trips in a caravan allows you to enjoy unique sights that many people would never venture to see and gives you the flexibility of spending the night wherever you wish. Buying a porch awning for your caravan offers many benefits, so read on to find out.

Prima Touring Essentials At The NEC

Check out Prima this week at the NEC for some show exclusive deals

The NEC is a huge show with an even wider range of products, offer and prizes available. No matter what you are looking for the Motorhome and Caravan show will have it and you are more than likely to find your perfect touring essentials on the Prima Leisure stand.

For Sale

Burstner Nexxo t720 - 2012 - £44995

Burnster Nexxo t720

Low Low profile chasis motorhome

Rapido A-Class 999M - 2009 - £54995

Rapido A class 999M

This flagship Rapido model is based on the Mercedes Sprinter chassis (very rare) with the fantastic Mercedes 3.

Monaco Knight 38 PDQ - 2006 - £79995

x

THE most practical RV layout ever on the market with four slide out rooms, full cream leather interior and light oak cabinetry creates even greater feeling of space.

Niesmann+Bischoff Arto 69 PL (auto) - 2011 - £61995

Niesmann + Bischoff Arto 69 PL

One of the best build qualities in the industry including aluminium sandwich construction, deep double floor and front electric thermo windscreen blind make this motorhome fully winterised.

Benimar Tessoro Part 1: The 483 Full Test

The Tessoro 483 is built on a 170BHP Ford

At CaravanTimes we recently had a Benimar Tessoro 483 on test for a couple of weeks. We have done just over 2000 miles in the Tessoro and tested in various ways - as you will find out in our inspiration features coming up. But before we give you some ideas of where and why you should use a motorhome like the Tessoro we wanted to bring some information on the Tessoro range and the very interesting 483.

Bristanbul Video Documentary Part 1

Part one of the documentary is here

So as most of our readers will know, the CaravanTimes team were lucky enough to be part of Bailey of Bristols, Bristol to the Bosphoros trip. Travelling 21 countries in 21 days the team did a fantastic job to take the 2 caravans and motorhome cross-continental.

In pictures: testing the new Auto-Trail V-Line Sport 635 to the extreme

Caravan Times' Favourite Adventure Couple, Simon & Faye, CHeck out the new Autotrail V-line

This weekend however, we decided to test out how sporty the Auto-Trail V-Line Sport 635 really is.

PLANS VETOED: Essex caravan park plans vetoed again

Possible site location at Port Flair

Plans for a 70 pitch caravan park in Essex have been rejected by the local council for a second time.