PwC London Corporate Finance has advised Caledonia Investments plc (“Caledonia”) on the sale of Park Holidays UK (“Park Holidays”) to Intermediate Capital Group plc (“ICG”).
Caledonia has agreed terms for the sale of Park Holidays, the UK’s third largest holiday park operator, to ICG, for a headline enterprise value of £362m.
Park Holidays was originally acquired by Caledonia in November 2013 for a headline valuation of £172m. Under Caledonia’s ownership, Park Holidays has increased the number of holiday parks it operates from 23 to 26 and has grown its EBITDA from £20.4m (for its financial year ended 31 December 2012) to an estimated £36.5m (for its financial year ending 31 December 2016).
PwC provided corporate finance (lead advisory) and debt advisory services to the vendors, led by Rick Jones and John Williams with support from Alexander Priestley and John Lane.
Completion of the transaction is conditional on the approval of the Financial Conduct Authority.