At what enterprise value was EUROPEAN CAMPING GROUP (ECG) acquired in 2025?

During the acquisition of EUROPEAN CAMPING GROUP (ECG) by ADIA in 2025, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of EUROPEAN CAMPING GROUP (ECG) when it was acquired by ADIA?

The estimated EV/EBITDA multiple for EUROPEAN CAMPING GROUP (ECG) is in the range of 10x - 18x.

When was EUROPEAN CAMPING GROUP (ECG) acquired by ADIA?

EUROPEAN CAMPING GROUP (ECG) was acquired by ADIA in 2025.

What was the revenue of EUROPEAN CAMPING GROUP (ECG) at the time of the deal?

The revenue of EUROPEAN CAMPING GROUP (ECG) at the time of the deal is estimated to be in the range of 450M - 900M EUR.

What was the EBITDA of EUROPEAN CAMPING GROUP (ECG) during the acquisition?

EUROPEAN CAMPING GROUP (ECG)'s EBITDA is estimated to be in the range of 150M - 250M EUR.

How is the data for the EUROPEAN CAMPING GROUP (ECG) acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the EUROPEAN CAMPING GROUP (ECG) deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.paipartners.com/mediaitem/pai-partners-agrees-to-sell-significant-minority-stake-in-european-camping-group-to-adia/

What is the average EV/EBITDA multiple for the Retail & Consumer sector in 2026?

The average EV/EBITDA multiple for the Retail & Consumer sector in 2026 is 11.2x.

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Home Database Retail & ConsumerEUROPEAN CAMPING GROUP (ECG)

03/2025

EUROPEAN CAMPING GROUP (ECG) acquired by ADIA

FRANCE Hospitality & Leisure / Hospitality / Hotels & Accommodation EV 1b - 4b EUR

Context

PAI Partners agreed to sell a significant minority stake in European Camping Group to a subsidiary of ADIA. PAI Partners retains majority ownership of the group. The transaction, officially celebrated during the 2025 "Choose France" summit, marks a new phase of development for ECG to pursue geographic diversification and organic growth. The investment by ADIA reportedly totaling EUR600 million for the stake—underscores the attractiveness of the outdoor hospitality sector and ECG's position as its leading pan-European platform.

Previously, the company had already undergone several LBOs, notably led by Ontario Teachers' Pension Plan in 2018 and Pai Partners in 2021. This succession of buyouts, combined with an active build-up strategy, highlights the strong attractiveness of the company's business model.

EUROPEAN CAMPING GROUP (ECG), which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (11.2x).

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Target

European Camping Group (ECG) is the European leader in outdoor accommodation. Operating through major brands such as Eurocamp, Homair, Tohapi, and Marvilla Parks, the group manages a fleet of approximately 48,000 mobile homes across more than 450 campsites in 11 countries (including France, Italy, Spain, and Croatia). Since 2021, the group has nearly doubled in scale, notably following the transformational acquisition of Vacanceselect in 2023.

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2022

Other operations with EUROPEAN CAMPING GROUP (ECG)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
07/2022	EUROPEAN CAMPING GROUP (ECG)	VACANCESELECT	FRANCE	Hotels & Accommodation
10/2021	PAI PARTNERS	EUROPEAN CAMPING GROUP (ECG)	FRANCE	Hotels & Accommodation
04/2018	ONTARIO TEACHERS' PENSION PLAN (OTPP)	EUROPEAN CAMPING GROUP (ECG)	FRANCE	Hotels & Accommodation
06/2014	THE CARLYLE GROUP	EUROPEAN CAMPING GROUP (ECG)	FRANCE	Hotels & Accommodation

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 150M - 250M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of EUROPEAN CAMPING GROUP (ECG) by ADIA are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: european camping group (ecg)

Acquirer: adia