Business Services Industry
Investor Gets Chunk of Fort Lauderdale, Fla.-Based Vehicle Dealership Chain.
Knight Ridder/Tribune Business News, January, 2002
The Miami Herald Knight Ridder/Tribune Business News
Jan. 22--Investor Stephen Adams, who owns a controlling interest in the company that operates the Good Sam Club and Camping World stores, has taken a 45.2 percent stake in Holiday RV Superstores, the Fort Lauderdale chain of recreational- and marine-vehicle dealerships.
Adams received the shares in return for providing $1.5 million to Holiday RV as part of a private placement that could raise as much as $3.5 million. The deal makes Adams, chairman of Affinity Group Holding of Englewood, Colo., Holiday RV's largest shareholder.
Marcus A. Lemonis, Holiday RV's chairman and chief executive, conceded that giving up such a huge stake to Adams was costly, but the company had little choice....
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