EU: About 100 holiday parks under the Landal GreenParks name is to be sold by Awaze to Roompot for an undisclosed sum.
Awaze has reached a ‘definitive agreement’ on the sale of its Landal GreenParks portfolio, comprising around 100 holiday parks across Belgium, Denmark, Germany, the UK, Hungary, The Netherlands, Austria, the Czech Republic and Switzerland.
The completion of the deal is subject to normal closing conditions. Rothschild & Co is serving as financial advisor to Awaze, with Latham & Watkins as legal counsel. Awaze’s other vacation rental businesses will remain part of Platinum Equity.
Roompot, which was bought by private equity firm KKR for around $1 billion last year, currently has over 200 parks in central and southern Europe.
Dirk Anbeek, CEO at Landal GreenParks, said: “I am very proud of how we have been able to strengthen Landal in the past three years as the business has distinguished itself in sustainability and guest service and has seen strong commercial growth. We have also accelerated international expansion with high-quality destinations. I thank Platinum and everyone working at Landal GreenParks and Awaze for their tremendous efforts over the past years, and what has been achieved.”
Henrik Kjellberg, CEO at Awaze, said: “Dirk Anbeek and the entire Landal team have done an outstanding job taking what was a good business and turned it into a great business. This transaction provides Landal [with] the right home for the future where they can continue to build an amazing experience for guests for the long term.
“At Awaze, we will continue building out Europe’s leading vacation rental management company, investing in our technology platform and upgrading the experience for our owners and guests. We have tremendous momentum, driven by unprecedented demand for rental properties across Europe. We are managing more vacation homes and delivering more stays than ever before,” he added.
Louis Samson, a partner at Platinum Equity, said: “I’m confident Roompot is the right partner for Landal going forward and I’m pleased we found a solution that creates value for everyone involved.”
In May this year, Awaze acquired three holiday rental firms in the UK and Denmark, adding more than 1000 homes to the company’s portfolio.