AXA Private Equity has arranged a EUR37m mezzanine tranche alongside Capzanine to finance the acquisition of Village Center by private equity firm 21 Centrale Partners and Promeo, the company’s founding shareholder.
Village Center operates 33 campsites in France, comprising 13,500 pitches and 7,800 mobile homes. The group’s activities also include the sale of residential mobile homes, as well as the distribution of off-season stays through its subsidiary Kawan.
This transaction follows the partnership signed on 1 August 2012 between Village Center and Vacances Directes, a 21 Centrale Partners portfolio company, to create Europe’s leading outdoor accommodation group, with 38 campsites, 20,500 pitches and 13,500 mobile homes installed in 168 partner campsites in Europe. The new group is expected to generate a turnover in excess of EUR100m in 2012.
Guillaume Chinardet, director private debt, AXA Private Equity, says: "We are pleased to support Village Center in its partnership with Vacances Directes. The mezzanine financing arranged by AXA Private Equity and Capzanine will support the development of the group and facilitate its growth, both organically and through future acquisitions in France and in Europe.”
