Singapore: Onex Corp, Canada’s largest buyout firm, agreed to acquire Parkdean Resorts for €1.35bn ($1.69bn) in a deal the buyer expects to be completed in the first quarter of next year.
The purchase of Parkdean Resorts, a UK caravan holiday park operator, is subject to conditions and regulatory approvals, Onex said in an e-mailed statement. Two of Onex’s funds are committing to an equity investment of about $750m.
Onex was up against Advent and Centerbridge for the purchase of Parkdean, The Sunday Times reported last month. Parkdean owns and operates 73 caravan holiday parks across England, Scotland and Wales, Onex said in the statement.
In November, the company announced a loss per share of $1.33 for the third quarter of 2016. Onex in April had hired Walt Jackson to establish its direct lending platform.
Jackson previously was the chief operating officer of Goldman Sachs Group Inc.’s private credit group. Founded in 1984, Toronto-based Onex has about $22.6bn in assets under management.
