At what enterprise value was EUROPEAN CAMPING GROUP (ECG) acquired in 2021?

During the acquisition of EUROPEAN CAMPING GROUP (ECG) by PAI PARTNERS in 2021, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

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

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 PAI PARTNERS?

EUROPEAN CAMPING GROUP (ECG) was acquired by PAI PARTNERS in 2021.

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 250M - 500M 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 50M - 100M 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-acquires-european-camping-group/

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)

10/2021

EUROPEAN CAMPING GROUP (ECG) acquired by PAI PARTNERS

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

Context

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. PAI's entry is intended to support an aggressive consolidation strategy, targeting 5 to 10 campsite acquisitions per year to reinforce ECG's position as the dominant pan-European platform.

In the past, the company had already been the subject of several LBOs, notably led by The Carlyle Group in 2014 and Ontario Teachers' Pension Plan in 2018. This succession of buyouts highlights the strong attractiveness of the company's business model.

EUROPEAN CAMPING GROUP (ECG), which reported an EBITDA margin of in 2019, 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).

-> 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, Sub-sector)
Date	Acquirer	Target	Country	Sector
03/2025	ADIA	EUROPEAN CAMPING GROUP (ECG)	FRANCE	Hotels & Accommodation
07/2022	EUROPEAN CAMPING GROUP (ECG)	VACANCESELECT	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 500M - 1.5b EUR

Revenue range: 250M - 500M 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 PAI PARTNERS 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.

Press release: view release

Target: european camping group (ecg)

Acquirer: pai partners