Big things are afoot in the RVing world for some of your most trusty road companions — RV apps. Thor Industries has entered a letter of intent to sell the majority interest of Roadpass Digital for $81 million.
Here is a behind-the-scenes look and some major services that will change hands. But what will it mean for you and the apps you rely on?
Thor Industries Owns a Lot of Your Favorite RVing Apps
You may not know it, but some of the most popular RVing apps are actually all part of the same family, the RVing giant Thor Industries.
These include Campendium, which helps users find RV parks, campgrounds, and boondocking sites; and Roadtrippers, a collection of travel information, tourist sites, and more. Thor Industries owns a group of digital products, and soon they’ll have a new owner.
Who Is Thor Industries & Roadpass Digital?
Thor Industries is the world’s largest manufacturer of recreational vehicles. It’s the corporate parent behind brands like Airstream, Jayco, Keystone, Tiffin, and more.
Thor also owns various RV-related businesses, primarily centered around manufacturing equipment like mobile plumbing to windows and shades.
Another lesser-known part of Thor Industries is Roadpass Digital, formally known as TH2Connect, LLC, of which Thor is a lead investor. This is the home of the company’s digital assets, including apps like Campendium, Road Trippers, and many others.
Wall Street celebrates Thor order backlog; the customer loses again.
What Digital Products Is Thor Selling and Why?
The most prominent apps involved in this deal are Campendium and Roadtrippers, but they’re not the only ones. Others include Togo RV, an all-in-one app that can help locate repair facilities or campgrounds, provide travel and organizational tips, and more.
Additionally, part of the purchase has RVillage, a fast-growing social network helping RVers connect. Users can share information and reviews or simply network with fellow travelers.
Roadpass also includes Overnight RV Parking, a leading directory of free spots in the US and Canada where you can camp overnight. This diverse suite of apps provides services valuable to everyone in the RVing world.
Who Is Graham Allen Partners?
The new majority owner of Roadpass Digital and all these apps is Indiana-based private equity firm Graham Allen Partners. According to a news release from Globe News Wire announcing the sale, Graham Allen Partners described itself as specializing in “building value through technology and digital transformation.”
The company has been around for two decades and boasts over 300 employees working with more than a half-dozen companies. Thor called the investment group “the right firm to help Roadpass Digital reach new levels of success and further scale the digital experience with RVers everywhere.”
The purchase of $81 million for the controlling interest will close before April 30. According to the news release, the digital products need a more focused and strategic development which Graham Allen Partners can provide.
What Will Happen to These RV Apps (and Their Data)?
Naturally, users may feel concerned when their favorite apps go through a significant change, like a new owner. This is especially so with the new owners involved in the finance world, which has faced suspicion since the financial crisis of the late 2000s.
But Roadpass Digital’s CEO praised the acquisition, saying he felt it would help the company continue to grow, innovate, and “deliver great experiences for RVers, campers, and road trippers.”
Are RV Apps Going Wallstreet?
Anyone connected to the world of RVing has seen the explosion in interest over the past few years. What was once a niche hobby has seen families, working couples, and many other atypical RVers hit the roads. And with this added interest comes a lot of extra cash.
Therefore, it shouldn’t be surprising that Wall Street and other big businesses want to get involved. These folks spend their lives looking for the next big thing to bring them and their clients a hefty return. As RVing continues to grow, they’ll want to carve out their piece of the pie.
Is now the right time to sell your RV and take the profit before the trend dies?
But just because investment firms are getting involved doesn’t mean an end to the golden days. Sometimes finance groups strangle promising apps to chase a buck. However, we also have examples of significant investments helping services reach their full potential.
Time will tell what’s next for Roadtrippers, Campendium, and other Roadpass Digital apps. But users don’t need to worry yet.
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