AERMONT takes majority stake in PARK HOLIDAYS
Context
Aermont Capital has entered into an agreement to acquire Park Holidays, the UK-based holiday park and leisure home business of Sun Communities. The transaction encompasses all assets through which the US group operates in the UK, marking Sun Communities' exit from this market. This divestment is part of Sun Communities' strategy to refocus on its core manufactured housing and recreational vehicle businesses in North America. For the seller, the deal enables a simplification of its asset portfolio and concentration of resources on priority markets. Meanwhile, Aermont Capital is acquiring a leading platform in the UK holiday park market, benefiting from an established asset portfolio and significant presence in a sector characterized by high barriers to entry and consolidation opportunities. The transaction provides the investor with a solid foundation to support future growth and pursue expansion in the UK market.
Park Holidays had already undergone several LBOs in the past, notably in 2016 with Icg and in 2021 with Sun Communities. These multiple LBO cycles illustrate the strong appeal for this type of asset.
PARK HOLIDAYS, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (10.6x).
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Target
Park Holidays UK, headquartered in Hastings, operates a portfolio of holiday parks across the United Kingdom, providing a range of caravan and lodge stays, glamping options, camping facilities, and pitches for caravans and lodges, as well as the opportunity to purchase a secondary residence. Established in the 1980s, the organization underwent significant expansion in 2001 with the acquisition of ten parks from Haven Holidays, enabling it to extend its presence into Dorset, Hampshire, Essex, and Suffolk. The parks offer a variety of amenities, including leisure facilities, clubs, swimming pools, sports facilities, and luxury holiday accommodations. In recent years, the organization has undertaken substantial renovation work, focusing on enhancing its infrastructure, clubs, and accommodations to bolster its service offerings. The company's economic model generates revenue from three primary streams: the sale of static caravans to private owners, site fees paid by these owners, and the rental of holiday stays to vacationers.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (GBP)
Other operations with PARK HOLIDAYS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 11/2021 | SUN COMMUNITIES | PARK HOLIDAYS | UNITED KINGDOM | Hospitality |
| 12/2016 | ICG | PARK HOLIDAYS | UNITED KINGDOM | Hospitality |
| 11/2013 | CALEDONIA INVESTMENTS | PARK HOLIDAYS | UNITED KINGDOM | Hospitality |
REFERENCES
Valuation range: EV 500M - 1.5b GBP
Revenue range: 250M - 500M GBP
EBITDA range: 50M - 100M GBP
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: aermont