Skydive the Beach (ASK: SKB), Australia’s leading adventure tourism company, is now aiming to also become its largest. The company announced on Wednesday that it had acquired Queensland-based Raging Thunder Adventures, a leading multi-faceted adventure tourism business, for A$15.45 million.
Raging Thunder Adventures is considered North Queensland’s premier adventure tourism company in the adventure capital of Australia. It operates extreme white water rafting adventures, hot air balloon rides, canyoning, kayaking and boat tours of the Great Barrier Reef, serving more than 100,000 passengers each year.
In 1984, Raging Thunder Adventures became the first commercial white water rafting tour operator on the Tully River in Far North Queensland. Now, its rafting operations extend also to the Barron River, 30 minutes from Cairns. Its hot air ballooning base at Mareeba, just outside of Cairns, has operated tours over the Atherton tablelands for over 300 days during each of the last three years.
Raging Thunder Adventures also owns and operates one of two fast catamaran ferries which provides day trips to Fitzroy Island on the Great Barrier Reef and this year the company established a canyoning operation at Crystal Cascades, 20 minutes from the centre of Cairns.
Executive Director of SKB, Anthony Boucaut said the acquisition means SKB will be able to provide more unforgettable experiences and adrenaline-pumping stories across Australia.
“Raging Thunder Adventures has built a solid reputation of providing memorable and sustainable adventure experiences within the world’s most unique natural habitats. We are thrilled to be able to diversify our offering and bring these ‘once-in-a-lifetime’ adventures to more Australians and international visitors.”
Skydive the Beach operates 15 drop zones across Australia and 3 in what is commonly known as the adventure capital of the world, Queenstown New Zealand.
Fellow Executive Director Anthony Ritter said: “Consumers today want to enjoy unique travel experiences that get their heart pumping and test their limits. Aligning with companies that share our values for safety, high-quality and sustainable adventures will fast track our growth and ensure that more people can enjoy those unforgettable experiences for themselves.”
“We are on our way to becoming the biggest and the best adventure tourism and leisure company in the world,” added Mr Ritter.
FY16 was the company’s first full financial year as a listed entity, with Revenue for the year at $58.5m (up from $26.3m in FY15) and earnings before interest, tax, depreciation and amortisation (EBITDA) for the year at $13.5m (up from $6.0m in FY15)
The company has announced that a 1 cent per share fully franked dividend would be paid to shareholders today.