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 in 2020, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (10.9x).
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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
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with VACANCESELECT
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2015 | PERMIRA | VACANCESELECT | FRANCE | Hotels & Accommodation |
REFERENCES
Valuation range: EV 1b - 4b EUR
Revenue range: 250M - 500M EUR
EBITDA range: 50M - 100M EUR
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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.
Press release: view release
Target: vacanceselect
Acquirer: european camping group (ecg)