ICG Enterprise Trust is investing alongside funds advised by PAI Partners to support European Camping Group’s acquisition of Vacanceselect in a transaction that is expected to create the 3rd largest operator of mobile holiday homes in Europe.
The investment is being led by PAI Europe VII and PAI Europe VIII and the trust will invest as a limited partner in these funds as well as through a co-investment. ICG Enterprise already had a co-investment in European Camping Group which it made alongside PAI Fund VII in December 2021. This deal brings the trust’s total investment in the combined company to €17.7m (£15.6m) on a look-through basis.
European Camping Group is a leading tour operator specialised in the mobile home holiday market, offering its customers over 23,000 high-quality holiday lets located in 300 European destinations. Headquartered in Montpellier, France, Vacanceselect has a broad European presence, operating in over 270 campsites across holiday-making destinations such as France, Italy, Spain and Croatia. Vacanceselect operates more than 22,000 mobile homes under the Tohapi and Vacanceselect brands.
ICGT : ICG Enterprise backs European Camping deal