In November 2016, PAI Partners completed the acquisition of Roompot, an operator and developer of holiday parks in the Netherlands.
PAI’s decision to acquire Roompot was based on the strong conviction that the asset could deliver attractive growth and improved profitability due to: its positioning as a large player in the Dutch holiday park market; its clear leadership position on attractive coastal locations, which were outgrowing the overall market; and its unique integrated business model, combining park operations and development.
Under PAI’s ownership, Roompot outperformed its peers and the Dutch leisure market, benefitting from the favourable sector trends identified at investment, and significant transformation initiatives.
Despite the Covid-19 outbreak and the short-term impact on the performance of the parks, the company’s transformation into a sought-after market leader with long-term potential led to its successful sale to KKR, which completed in September 2020.
Identifying transformation opportunities
When PAI acquired Roompot, the company had suffered long term under-investment, which had damaged the company’s image and operational performance.
Nevertheless, the investment team had the strong conviction that the company had the potential to deliver attractive growth given: its coastal locations and scale in the Dutch holiday park market; the resilience of the market, which was benefitting from the growing “staycation trend" and which was favourable to large players rather than family-operated parks, due to multiple scale advantages; the opportunity to improve park operations with targeted initiatives such as dynamic pricing or restyling.
PAI's extensive experience and understanding of consumer-facing companies made us a strong partner to support the management team in delivering these transformation plans.