France: European private equity firm PAI Partners has announced that it has agreed to sell a “significant” minority stake in outdoor accommodation group European Camping Group [ECG] to a wholly owned subsidiary of the Abu Dhabi Investment Authority [ADIA].
PAI first invested in European Camping Group in 2021, including investments in the group’s holiday park portfolio and mobile home fleet. The French private equity firm will remain the majority shareholder in ECG.
Two years ago, PAI facilitated ECG’s “transformational” €1 billion acquisition of French campsite brand Vacanceselect Group, which enabled the group to triple its campsite portfolio in France, Spain, Italy, Croatia and the Netherlands.
Today, European Camping Group operates across 11 European countries through its main brands Eurocamp and Homair, offering more than 400 holiday parks, as well as over 56,000 pitches and a fleet of 48,000 mobile homes.
Bertrand Monier, partner at PAI, said: “ECG is a prime example of a real economy business that has emerged as a clear market leader in outdoor accommodation, benefiting from substantial investment, attractive market dynamics and an exceptional management team, with plenty of runway for growth. We are delighted to welcome ADIA as our fellow shareholder for the next stage of growth, sharing our vision for ECG and the opportunities to build on its success.”
Hamad Shahwan Aldhaheri, executive director of the private equities department at ADIA, said: “ECG has successfully built one of Europe’s leading outdoor accommodation groups, driven by its strong and experienced management team. This investment, alongside a proven partner in PAI, aims to support and accelerate the growth of the business.”
ECG CEO Sébastien Manceau said: “We are delighted to welcome ADIA as a new investor alongside PAI to support our growth trajectory and continue strengthening our leadership in the European outdoor accommodation market. This new chapter will allow us to pursue our geographic diversification journey and focus on organic and operational levers to achieve our full potential.”
The transaction is subject to customary regulatory approvals and is expected to close in the second quarter of this year, according to a press release.
