(BFM Bourse) – A few months after its IPO, the second French player in the distribution of leisure vehicles behind Trigano acquired Martin Caravanes and YPO Camp Sublet. These two acquisitions constitute for the company “an important milestone” in order to achieve the objective of a turnover of more than 170 million euros accompanied by an operating margin of 6.5% as of August 31, 2025. .
Only a few months after the success of its IPO, Hunyvers announced two new acquisitions allowing it to expand its regional network. The distributor of new and used leisure vehicles has just finalized the takeovers of Martin Caravanes and Ypo Camp Sublet, themselves specialized in the distribution of leisure vehicles, whose integration within the Hunyvers group has been effective since the 1st July 2022.
Martin Caravanes, which achieved a turnover of more than 7 million euros in 2021, is a company specializing in the distribution of leisure vehicles located in Lempdes near Clermont-Ferrand in the heart of the Auvergne region. Ypo Camp Sublet, which has more than 12 million euros in annual sales in 2021, is a company specializing in the distribution of leisure vehicles based in Lyon. It has a store and a workshop to provide after-sales service (after-sales service) and the preparation of vehicles. It also offers financing solutions.
An active external growth policy
The active policy of external growth, based on acquisitions of companies located in the regions, has enabled the company founded in 2006 to be the second French player in the distribution of new and used leisure vehicles, such as as motorhomes, vans or caravans of several brands, new and used. Historically focused on the trade of motorhomes and caravans, Hunyvers has gradually diversified into services in order to meet the varied demands of its customers.
Hunyvers operates in central France through a network of 15 concessions, including 3 concessions dedicated to boating (Arcachon, Gujan-Mestras, Biscarosse). In parallel with the sale of new and used vehicles, Hunyvers has a complementary range of services (financing, after-sales, spare parts, etc.) allowing it to support the customer at 360°. The company has also developed Caramaps, an application dedicated to itinerant travel which brings together a community of more than 670,000 members, half of whom are French. It lists all the essential points of interest for motorhome users when traveling in Europe, including camping areas, services and private areas, vehicle maintenance and repair concessions, petrol stations, amenities (laundry, …) or places of leisure.
In a second phase of its development, Hunyvers does not rule out studying potential growth opportunities that could exist in countries bordering France.
A democratization of the use of the motorhome
Like Trigano, Hunyvers’ growth is fueled by changing consumption habits in leisure, an increase in the number of retirees and the democratization of itinerant travel. An evolution which has accelerated sharply since the health crisis and the end of confinement. Between March 2020 and March 2021 motorhome registrations increased by 21.8%, says Hunyvers.
The company distributes 45 brands of leisure vehicles distributed and thus sold more than 1,800 leisure vehicles in its 2020-2021 financial year (closed at the end of August) for a turnover of 91 million euros. The distribution of vehicles represents 87% of turnover and the rest, ie 13%, is generated by the sale of services. For Louis-Marie de Sade, analyst at Euroland Corporate, these services have strong margins (39% of the gross margin in 2020-2021) and help build customer loyalty over the long term, generate repeat business (recurring activity) and improve the supply of used vehicles.
In the third quarter of its staggered 2021-2022 financial year, Hunyvers’ sales amounted to 27.4 million euros and continued to grow at a high pace comparable to that of previous quarters, up 57%, of which 21% in organic. The company “benefiting from sustained organic growth in recent years and a real know-how in the integration of concessions”, adds the analyst. Still according to Euroland Corporate, “Hunyvers has succeeded in creating a profitable and replicable model where each acquisition contributes both to the generation of income and to the improvement of profitability”. The analyst, seduced by the company’s growth profile, recently initiated coverage of the Hunyvers share, with a target of 17 euros, materializing a potential upside of 52%, at the current price.
The acquisitions of Martin Caravanes and Ypo Camp Sublet will constitute for the company “an important milestone” in order to achieve the objective announced during its IPO last March, namely a turnover of more than 170 million euros. accompanied by an operating margin of 6.5% as of August 31, 2025.
Sabrina Sadgui – ©2022 BFM Bourse
Are you following this action?
Receive all the information about HUNYVERS in real time: