Lazydays RV Center and Andina Acquisition Corp. II have announced the closing of their previously announced business combination. The business combination was approved at Andina’s general meeting of shareholders held earlier this week. The combined company was renamed Lazydays Holdings. Around March 16, the combined company’s common stock will commence trading on the Nasdaq Capital Market under the ticker symbol LAZY.
Lazydays’ high-margin revenue streams include F&I, service and repair, parts and accessories, rentals, and hospitality offerings.
“Our vision has been to become a public company, so we would have access to the capital markets in order to accelerate our geographic expansion strategy,” said William P. Murnane, chairman and CEO of Lazydays. “The Lazydays brand and model is well positioned to support a national network of RV dealerships and service centers. We believe that over time we can generate above-market growth in the highly fragmented RV dealership market. The financings associated with this transaction will give us the balance sheet flexibility and liquidity to support our growth strategy and bring our exceptional customer experience and product expertise closer to our loyal customers throughout the country.”
“We are extremely excited to join forces with Lazydays RV,” said Luke Weil, founder of Andina. “We believe the public listing and additional capital raised through this transaction will accelerate Lazydays’ growth initiatives and help to deliver long-term value for shareholders.”