CALEDONIA INVESTMENTS PLC Caledonia Investments plc has agreed to sell its stake in Park Holidays to ICG for £197 million, representing a lifetime IRR of 44% and MoM of 2.9x.
Based in Southern England, Park Holidays owns and operates a portfolio of 26 caravan parks.
Caledonia financed the MBO of Park Holidays in 2013 for a headline value of £172m, backing Jeff Sills and the management team, all of whom will remain in place following the sale to ICG.
Under Caledonia's ownership, Park Holidays accelerated capital investment across the estate, driving further revenue growth, as well as increasing the number of parks it operates from 23 to 26.
Completion of the transaction is conditional on the approval of the Financial Conduct Authority, which could take up to three months.
Caledonia Investment plc published this content on 10 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 January 2017 15:33:02 UTC.
Original documenthttp://www.caledonia.com/news/article/caledonia-agrees-to-sell-park-holidays-for-362-million
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