VACANCESELECT acquired by EUROPEAN CAMPING GROUP (ECG)
Context
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. The combined entity manages 45,000 mobile homes across 400 campsites, 100 of which are directly owned. The merger significantly increased ECG's "Prop-Co" footprint and marked a successful exit for Permira after 7 years of ownership.
It is worth noting that the fund Permira took control of Vacanceselect through an LBO in 2015.
VACANCESELECT, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a premium to the average currently observed in the Retail & Consumer sector (11.9x).
-> Deep-dive in Retail & Consumer market trends
Target
Vacanceselect is a major European player in the campsite sector, formed by the 2018 merger between Vacalians and the Dutch group Vacanceselect. The group is characterized by its strong "Prop-Co" (Property Company) model, owning roughly 60 campsites outright. It operates a diverse portfolio of brands offering mobile-home rentals and pitch allotments across high-demand tourist zones in Southern Europe.
Ent. Value
€1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with VACANCESELECT
Other operations with VACANCESELECT
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2015 | PERMIRA | VACANCESELECT | FRANCE | Hotels & Accommodation |
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Other operations with EUROPEAN CAMPING GROUP (ECG)
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2025 | ADIA | EUROPEAN CAMPING GROUP (ECG) | 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 €1–10bn
Revenue range: €250–500M
EBITDA range: €50–100M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of VACANCESELECT by EUROPEAN CAMPING GROUP (ECG) 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: vacanceselect
Acquirer: european camping group (ecg)