European Camping Group (ECG), a giant in the European outdoor accommodation sector, last week announced that it has reached an agreement to acquire campsite and mobile-home operator Vacanceselect from funds advised by Permira and minority shareholders.
“The combination of ECG and Vacanceselect creates a French champion and European leader in the outdoor accommodation space, offering more than 400 destinations to our clients. We are confident in the prospects for our sector, which is seeing consistently increasing demand,” Alain Calmé, president of ECG, said in a press release.
“Thanks to the continuous improvements to our accommodation and campsite facilities and, as a result, to the overall client experience, our combined offering will be even more attractive to European families,” Calmé added.
Vacanceselect, based in Montpellier, France, has a strong presence throughout the European camping and outdoor accommodation value chain, including rental activities, mobile home sales, and online digital distribution. The company has visibility in more than 270 campsites across France, Croatia, Italy, and Spain.
Under its Tohapi and Vananceselect brands, the company operates over 22,000 mobile homes.
Backed by PAI Partners, ECG deems the Vacanceselect acquisition a transformational one, allowing it to accelerate its growth trajectory, solidifying its business model, and enhancing its premium value proposition.
“This is the perfect moment for us to accelerate our development through the combination with Vacanceselect. Following this acquisition, we will continue to improve the quality, affordability, and—above all—the sustainability of our offering given the significantly lower carbon footprint of campsites,” Philippe de Trémiolles, managing director at ECG, commented.
Under the Permira funds’ ownership, Vacanceselect has more than doubled in size through a combination of portfolio expansion (from 45 to 65 owned campsites), significant investment in the premiumization of its sites, and the expansion and increased ownership of its distribution across all key European markets.
Bertrand Monier, Partner at PAI, said: “The combination creates the number 3 player in Europe and the number 1 in France, with approximately 10% market share, leaving room for further consolidation and expansion. By offering value-for-money holidays, the sector has proved its resilience to downturns and is expected to be well-protected from the current volatile macro environment.”
“It has been a privilege to support Vacanceselect over the past seven years and we would like to thank Aymar Hénin and his team for our collaborative partnership. We are confident that the company will continue to go from strength to strength across Europe through this combination with ECG and wish them every success in the future,” Benoit Vauchy, also a partner at Permira, added.
PAI Partners was advised by Rothschild & Co and BNP Paribas (M&A), Shearman & Sterling (Legal), Clifford Chance (Antitrust), PwC (Financial), Roland Berger and Kearney (Commercial and Operations) and Mayer Brown (Tax). Permira was advised by Amala Partners (M&A), Clifford Chance (Legal), and PwC (Financial).
The transaction is subject to customary closing conditions, including an employee consultation process and antitrust approvals.
Did you know that with the acquisition of Vacanceselect by The European Camping Group, they’re teaming up to create awesome and eco-conscious camping experiences across Europe? Super exciting stuff!