11 Aug 2016
Roompot Vakanties will be acquired by the French private equity firm PAI Partners. Both parties have agreed to the transaction, subject to the finalisation of the advisory process with Roompot’s works council and the completion of the consultation procedure with the appropriate unions.
The acquisition will enable Roompot to further grow its position as the largest provider of quality recreational accommodations in the Netherlands and accelerate the implementation of its development plans.
PAI Partners will acquire Roompot from Gilde Buy Out Partners, BNP Paribas Fortis, the current management of Roompot and the founder Henk van Koeveringe. The selling price is confidential and will not be made public, but is in conformity with market standards.
“The acquisition is in line with both our strategic ambitions and financial aspirations”, says CEO Jurgen van Cutsem. “We already are the largest player in the recreational sector in the Netherlands. The goal now is to further improve the quality of our parks and other accommodations, something we already started several years ago. Next to this, we are planning to expand and strengthen our current position by strategic acquisitions and the redevelopment of our current coastal locations.” Currently, Roompot is mainly active in the Netherlands, Germany, Belgium and France. The focus of the company, which is originally from the Dutch region Zeeland, will remain on coastal recreational parks.
Gaëlle d’Engremont, Partner at PAI Partners, commented: “Over the past years, PAI has invested significant time and resources in the hospitality and leisure space, which is a growing and attractive sector in Europe. We believe the holiday park segment will benefit from the long term trends that are reshaping the European leisure market, such as the reduction in the length of vacations, the need for closer destinations and the rise of premium and branded offering. We are delighted to be partnering with an outstanding management team led by Jurgen van Cutsem. Roompot is a unique asset and we look forward to supporting the team to successfully implement its growth strategy in the coming years. After B&B Hotels, this transaction is a further example of the firm’s long-standing commitment to and strong knowledge of the Consumer sector”.
The acquisition is a positive development for both guests and employees of Roompot Vakanties. After the acquisition, the workforce will be expanded in strategic locations. The new owner has also agreed that the current management will remain with Roompot for at least the next five years. Roompot and PAI Partners expect the acquisition to be completed around the end of September.