Fort Lauderdale, Fla. — RV Retailer, LLC has signed an agreement to acquire RV One Superstores from Don Strollo, who will continue to lead RV One Superstores and will retain a significant ownership stake in the business.
RV One sold approximately 8,000 RVs in 2017. RV One, which was founded 34 years ago by the Strollo family, currently retails new and used motorhome and towable RVs from five stores in Orlando and Tampa, Fla.; Albany and Buffalo, N.Y.; and Des Moines, Iowa. RV One anticipates completion of new state-of-the-art RV sales and service facilities in Orlando, Tampa and Sarasota, Fla., by year-end. Upon completion of these facilities, RV One will have seven stores and is well positioned for strong future growth.
"We are excited to partner with Don Strollo, who has led the extraordinary growth of RV One from $9 million in annual revenue to $400 million over the last 25 years. We look forward to working with the entire RV One management team, including Mark Strollo and Matt Strollo, that leads one of the premier RV dealers in the country," says Jon Ferrando, president and CEO of RV Retailer. "We welcome RV One's 430 dedicated and talented associates to the RV Retailer family. We will continue to operate the business under the RV One retail brand name."
"The RV Retailer team continues to execute on our business plan to build a premier RV dealership platform," says Patrick Sissman, vice president at Redwood Capital Investments, RV Retailer's capital partner. "We are excited about the addition of RV One, as well as Don Strollo and his management team, to expand our platform to attractive markets in Florida, New York and Iowa."
RV Retailer, LLC was founded in 2018 to create a leading recreational vehicle retail company in the United States. Upon completion of the acquisitions of RV One and ExploreUSA, RV Retailer will have 17 RV stores in Texas, Florida, New York and Iowa with $900 million in annual revenue.
Redwood Capital Investments is the private investment company for the founders of Allegis Group. Redwood partners with founders, family-business owners and management teams to build best-in-class companies over the long term.
SOURCE: RV Retailer, LLC