Macfarlanes advises Caledonia Investments on sale of Park Holidays UK

23 December 2016

Caledonia Investments has agreed to the sale of Park Holidays UK, the third largest holiday park operator in the UK, to Tiger Bidco Limited, a special purpose vehicle incorporated by Intermediate Capital Group (ICG) for a headline enterprise value of £362m.

Having acquired the company in November 2013, which at the time was valued at £172m, Caledonia Investments stands to make a positive return on its initial equity investment of circa £88m, receiving a reported £197m in cash for its stake in Park Holidays UK.

The Macfarlanes advisory team was led by corporate and M&A partner Stephen Drewitt, alongside commercial real estate partner Tom Pedder, banking and finance partner Kirstie Hutchinson, tax and structuring partner Peter Abbott and commercial real estate consultant Nigel Price. They were assisted by corporate and M&A solicitors Adam Porter, Jennifer Organ and Tom Trotter, commercial real estate senior solicitor Cate Taylor, tax and structuring solicitor Catherine Hill and banking and finance solicitor Adam Caines.

Stephen Drewitt comments: “Having acted for Caledonia on its acquisition of Park Holidays in 2013, we were very pleased to be working with the team again - on an exit that represents a great result for all involved”.

The transaction is subject to FCA approval and could take up to three months to complete.