SKB parachutes into New Zealand

Wilson Asset Management

Wilson Asset Management

Leisure business Skydive the Beach (ASX: SKB), which debuted on the Australian stock market this year, has come to an agreement to buy New Zealand's Skydive Queenstown operation for $15.5 million. Skydive Queenstown is New Zealand’s leading tandem skydiving company, holding approximately 33% of New Zealand's skydive market share. Skydive the Beach said the transaction enhances the group's market leading position with a major established NZ growth business. The acquisition is also expected to increase Skydive the Beach's tandem dives by 20% annually, helping lift its revenue forecast to $54.9m for the financial year, up from its previous guidance of $47.5 million. To fund the acquisition, Skydive the Beach has launched a fully underwritten $19.6 million capital raising. SKB shares closed up 7% for the week. We own Skydive the Beach in the investment portfolio.


Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.