FOR IMMEDIATE RELEASE
RV, Outdoor Recreation Leader, Affinity, Announces $144 Million Financing Deal
March 3, 2010
VENTURA, Calif. (March 3, 2010) – Affinity, the nation’s largest provider of outdoor recreation clubs, services, media and events, has announced that it has completed the refinancing of its senior bank debt. Affinity has entered into a new $144 million loan agreement that allows the company to restructure its existing debt which was set to mature on March 31.
“We’re very pleased with this direction and the stability it gives Affinity as we grow our core business to new heights,” said Mike Schneider, CEO of Affinity. “As we begin to exit a major financial downturn, this financing puts us in a strong position to capitalize on new revenue growth opportunities and continue our commitment to leadership in the outdoor recreation marketplace.”
A multi-media company, Affinity is well known for managing several membership clubs including the Good Sam Club, the world’s largest RV owner’s organization. Affinity also operates numerous consumer and business Web sites, publications and shows for RV, powersports, marine and outdoor enthusiasts.
The company also owns Camping World, the largest after market retailer in the RV industry with more than 75 locations throughout the United States.
Moelis & Company acted as exclusive financial advisor and sole placement agent to Affinity in connection with the refinancing.
For more information, visit www.affinitygroup.com.
About Affinity
Affinity, www.affinitygroup.com, is the nation’s largest provider of outdoor clubs, services, media and events that service the safety, security, comfort and convenience needs of the North American recreational vehicle (RV) and outdoor enthusiast market. By providing information, insights, and resources, the company champions the fun, freedom, and adventure of recreation in motion. The company works to enhance its customers’ recreational experiences and build the communities that share and promote their fun and adventurous lifestyles.
Affinity is organized into four different business units – Affinity Media, Affinity Clubs, Affinity Events and Affinity Ventures. Their corporate headquarters are located in Ventura, Calif. Subsidiary operations and divisions can be found at multiple locations throughout the United States.
“We’re very pleased with this direction and the stability it gives Affinity as we grow our core business to new heights,” said Mike Schneider, CEO of Affinity. “As we begin to exit a major financial downturn, this financing puts us in a strong position to capitalize on new revenue growth opportunities and continue our commitment to leadership in the outdoor recreation marketplace.”
A multi-media company, Affinity is well known for managing several membership clubs including the Good Sam Club, the world’s largest RV owner’s organization. Affinity also operates numerous consumer and business Web sites, publications and shows for RV, powersports, marine and outdoor enthusiasts.
The company also owns Camping World, the largest after market retailer in the RV industry with more than 75 locations throughout the United States.
Moelis & Company acted as exclusive financial advisor and sole placement agent to Affinity in connection with the refinancing.
For more information, visit www.affinitygroup.com.
About Affinity
Affinity, www.affinitygroup.com, is the nation’s largest provider of outdoor clubs, services, media and events that service the safety, security, comfort and convenience needs of the North American recreational vehicle (RV) and outdoor enthusiast market. By providing information, insights, and resources, the company champions the fun, freedom, and adventure of recreation in motion. The company works to enhance its customers’ recreational experiences and build the communities that share and promote their fun and adventurous lifestyles.
Affinity is organized into four different business units – Affinity Media, Affinity Clubs, Affinity Events and Affinity Ventures. Their corporate headquarters are located in Ventura, Calif. Subsidiary operations and divisions can be found at multiple locations throughout the United States.