M&A Deal Summary

Sun Communities Acquires Park Holidays

On November 15, 2021, Sun Communities acquired leisure company Park Holidays from Intermediate Capital Group for 950M GBP

Acquisition Highlights
  • This is Sun Communities’ 1st transaction in the Leisure sector.
  • This is Sun Communities’ 2nd largest (disclosed) transaction.
  • This is Sun Communities’ 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2021-11-15
Target Park Holidays
Sector Leisure
Buyer(s) Sun Communities
Sellers(s) Intermediate Capital Group
Deal Type Add-on Acquisition
Deal Value 950M GBP
Advisor(s) HSBC Global Banking and Markets
RBC Capital Markets (Financial)
Proskauer Rose LLP (Legal)

Target

Park Holidays

Bexhill-On-Sea, United Kingdom
Park Holidays is an operator of 25-holiday parks across the south of England. Caravan parks have a loyal and growing customer base which, combined with planning policies that restrict the development of new parks, results in a robust and resilient business model. Park Holidays was formed in 1984 and is based in Bexhill-On-Sea.

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Buyer(S) 1

Buyer

Sun Communities

Southfield, Michigan, United States
Category Company
Sector Real Estate
Employees6,733
Revenue 3.2B USD (2023)
DESCRIPTION

Sun Communities owns, operates and develops MH and RV communities concentrated in the midwestern, southern and southeastern United States. Sun Communities is based in Southfield, Michigan.

DEAL STATS #
Overall 3 of 3
Sector (Leisure) 1 of 1
Type (Add-on Acquisition) 3 of 3
Country (United Kingdom) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-29 Safe Harbor Marinas

Dallas, Texas, United States

Safe Harbor Marinas LLC is an owner and operator of marinas. Safe Harbor Marinas owns and operates 101 marinas, manages five marinas on behalf of third parties, and has an approximate 40,000-member network of boat owners across 22 states.

Buy $2.1B

Seller(S) 1

SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 209 of 217
Sector (Leisure) 6 of 6
Type (Add-on Acquisition) 65 of 67
Country (United Kingdom) 55 of 58
Year (2021) 3 of 5
Size (of disclosed) 11 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Atos

Heidelberg, Germany

Atos is a provider of inter-disciplinary medical services that comprises a total of 33 specialized medical practices and nine operating rooms, backed by ownership of the Heidelberg clinic real estate assets. Services range from simple health checks to highly complex surgical procedures, with a focus on orthopedics, and particularly on the shoulders, knees, and ankles. Atos is based in Heidelberg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Suanfarma

Alcobendas, Spain

Suanfarma is a provider in developing, producing, and marketing raw materials and finished dosage forms for the pharmaceutical, biotechnological, veterinary, nutritional, and cosmetic sectors. Suanfarma was founded in 1993 and is based in Alcobendas, Spain.

Sell -
Mergr

Product

Company

Legal