SCHEDULE 13G/A: Crestview Partners Updates Significant Stake in Camping World Holdings, Disclosing 13.1% Beneficial Ownership
Beneficial Ownership Disclosure
Crestview Partners II GP, L.P. and its affiliated entities have filed an Amendment No. 7 to Schedule 13G, detailing their beneficial ownership of 13.1% of Camping World Holdings, Inc.'s Class A Common Stock as of December 31, 2024.
Summary
- Crestview Partners II GP, L.P. reported beneficial ownership of 8,803,510 shares of Camping World Holdings, Inc. Class A Common Stock, representing 13.1% of the class.
- This aggregate amount includes 6,882,264 Class A Shares that would be issued upon full redemption of Common LLC Units held by CVRV Acquisition LLC, and 1,921,246 directly owned Class A Shares.
- CVRV Acquisition LLC beneficially owns 6,882,264 shares, representing 10.3% of the Class A Common Stock, primarily through redeemable Common LLC Units.
- CVRV Acquisition II LLC beneficially owns 1,873,626 shares, representing 3.1% of the Class A Common Stock.
- Crestview Advisors, L.L.C. beneficially owns 47,620 shares, representing 0.1% of the Class A Common Stock, including shares from vested Restricted Stock Units (RSUs) and assigned RSU rights.
- The percentages are calculated based on 45,491,530 Class A Shares outstanding as of October 25, 2024, an additional 14,634,146 shares issued on November 1, 2024, and the potential issuance of 6,882,264 Class A Shares from Common Unit redemption and 6,913 Class A Shares from RSU vesting.
- The filing clarifies the complex ownership structure involving various Crestview entities and their relationship to Camping World Holdings' Class A and Class B shares, and Common LLC Units.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, providing neutral information without expressing positive or negative sentiment about the company's performance or prospects.
Future Outlook
NA
Industry Context
This filing provides transparency regarding a significant institutional investor's stake in Camping World Holdings, a leading retailer of recreational vehicles (RVs) and related products and services. Such disclosures are standard for major shareholders and offer insight into the ownership structure of publicly traded companies within the consumer discretionary and outdoor recreation sectors.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Board Director | Daniel Kilpatrick | NA | NA | Mentioned as a former member of the Issuer's board of directors, holding the title of Partner at Crestview, L.L.C. and Crestview Advisors, L.L.C. |
| Board Director | NA | Brian Cassidy | NA | Mentioned as a current member of the Issuer's board of directors, holding the title of Partner at Crestview, L.L.C. and Crestview Advisors, L.L.C. |
| Former Board Director | Jeffery Marcus | NA | NA | Mentioned as a former member of the Issuer's board of directors. |
Related Party Transactions
- Crestview Partners II GP, L.P. is the general partner of entities that are members of CVRV Acquisition LLC and CVRV Acquisition II LLC, establishing a control relationship over these entities' holdings.
- Crestview Advisors, L.L.C. provides investment advisory and management services to certain Crestview entities, and holds shares derived from RSUs granted to current and former directors associated with Crestview (Brian Cassidy, Daniel Kilpatrick, Jeffery Marcus).
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and trading activity.
- Management: Awareness of a major shareholder's position and potential influence on corporate decisions.
Key Dates
| Date | Description |
|---|---|
| 2024-10-25 | Date as of which 45,491,530 Class A Shares were outstanding, as reported in the Issuer's Form 10-Q. |
| 2024-10-29 | Date of filing of the Issuer's Form 10-Q. |
| 2024-11-01 | Date of issuance of 14,634,146 shares of Common Stock, as disclosed in the Issuer's Form 8-K. |
| 2024-12-31 | Date of event which requires filing of this statement. |
| 2025-02-14 | Date of filing of the Schedule 13G Amendment No. 7. |
Keywords
Camping World Holdings, Crestview Partners, SEC filing, Schedule 13G, beneficial ownership, Class A Common Stock, institutional ownership, investment fund, equity stake, public disclosure
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