In March 2018, Andina Acquisition Corp. II (Andina II) completed a business combination with Lazydays R.V. Center, Inc (Nasdaq: LAZY). The total consideration paid to the seller was USD $87 million in cash plus 2.9 million shares of common stock in the combined entity. The transaction was funded with a combination of cash from Andina II’s USD $40 million IPO in December 2015, a USD $95 million PIPE investment and an expansion of Lazydays’ credit facility. The business combination was valued at approximately USD $208 million on a pro forma fully diluted basis (7.0x 2017E Adjusted EBITDA).

Lazydays, The RV Authority™, is an iconic brand in the RV industry. Home of the world’s largest recreational vehicle dealership, based on 126 acres outside of Tampa, Florida, Lazydays has eight dealership locations in Arizona, Colorado, Florida, Minnesota, and Tennessee. Lazydays also has a dedicated Service Center location in Texas. Offering the nation’s largest selection of leading RV brands, Lazydays features nearly 3,000 new and pre-owned RVs, more than 400 service bays and two on-site campgrounds with over 700 RV campsites.