New Zealand based Campervan operator Tourism Holdings has received an offer to buy the business.
A nonbinding bid values THL at more than $500 million.
The offer was tabled by Australian private equity firm BGH Capital.
BGH has the backing of THL executive director Luke Trouchet and brother Karl, who were previously at Apollo Tourism & Leisure, a competitor THL merged with more than two years ago.
Luke Trouchet has now temporarily stepped down from his role with THL.
The offer is for a full acquisition but BGH is also open to acquiring a majority stake.
BGH already has a double-digit shareholding in Tourism Holdings.
“The board will act in what it considers to be the best interests of the company and its shareholders,” THL said in a statement.
