At what enterprise value was EUROPEAN CAMPING GROUP (ECG) acquired in 2018?

During the acquisition of EUROPEAN CAMPING GROUP (ECG) by ONTARIO TEACHERS' PENSION PLAN (OTPP) in 2018, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.0x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of EUROPEAN CAMPING GROUP (ECG) when it was acquired by ONTARIO TEACHERS' PENSION PLAN (OTPP)?

The estimated EV/EBITDA multiple for EUROPEAN CAMPING GROUP (ECG) is in the range of 10x - 18x. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.0x. Join our community for free to access full valuation data and industry trends.

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 150M - 250M EUR. Register for free to access the full transaction report and exact valuation multiples.

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 50M - 100M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

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://capitalfinance.lesechos.fr/deals/lbo/ontario-teachers-soffre-40-deeuropean-camping-group-valorise-plus-de-730-m-126515

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Home Database Retail & ConsumerEUROPEAN CAMPING GROUP (ECG)

04/2018

EUROPEAN CAMPING GROUP (ECG) acquired by ONTARIO TEACHERS' PENSION PLAN (OTPP)

FRANCE Hospitality & Leisure / Hospitality / Hotels & Accommodation EV 500M - 1.5b EUR

Context

Ontario Teachers' Pension Plan (OTPP) acquired a 40% minority stake in European Camping Group from Montefiore Investment and the management team. Montefiore Investment, which originally took the company private in 2014, remains the majority shareholder. This partnership aims to provide ECG with the long-term capital necessary to accelerate its international build-up strategy and consolidate its leadership position in the fragmented European campsite market.

It is worth noting that the fund The Carlyle Group took control of European Camping Group through an LBO in 2014.

EUROPEAN CAMPING GROUP (ECG), which reported an EBITDA margin of LOGIN in 2017, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Retail & Consumer sector (11.0x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Retail & Consumer market trends

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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Other operations with EUROPEAN CAMPING GROUP (ECG)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
03/2025	ADIA	EUROPEAN CAMPING GROUP (ECG)	FRANCE	Hospitality & Leisure	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
07/2022	EUROPEAN CAMPING GROUP (ECG)	VACANCESELECT	FRANCE	Hospitality & Leisure	Less than a year after being acquired by PAI Partners, European Camping Group (Homair, Eurocamp, Roan) absorbed its direct competitor, Vacanceselect. This transaction allowed ECG to double its revenue and become the #3 European leader in the sector
10/2021	PAI PARTNERS	EUROPEAN CAMPING GROUP (ECG)	FRANCE	Hospitality & Leisure	PAI Partners acquired a majority stake in European Camping Group from a consortium including Carlyle, Montefiore Investment, and Ontario Teachers' Pension Plan (OTPP). The deal was backed by an Ares unitranche financing
06/2014	THE CARLYLE GROUP	EUROPEAN CAMPING GROUP (ECG)	FRANCE	Hospitality & Leisure	The Carlyle Group acquired a 70% majority stake in Homair Vacances (now European Camping Group) in a transaction valuing the company at over EUR300 million. Montefiore Investment, the historical sponsor since 2006, reinvested to keep a 25% minority stake

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 150M - 250M EUR

EBITDA range: 50M - 100M 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 ONTARIO TEACHERS' PENSION PLAN (OTPP) are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: european camping group (ecg)

Acquirer: ontario teachers' pension plan (otpp)