December 19, 2016
Onex Corporation (“Onex”) (TSX: ONEX) has announced it has agreed to acquire Parkdean Resorts for £1.35 billion. Parkdean Resorts is a leading UK operator of caravan holiday parks. The transaction is anticipated to close in the first quarter of 2017, subject to customary conditions and regulatory approvals.
Parkdean Resorts owns and operates 73 caravan holiday parks across England, Scotland and Wales, selling more than 500,000 holidays and short breaks a year. The company offers a wide range of accommodation, from caravans and camping pitches to chalets, apartments and lodges. Parkdean Resorts employs over 6,000 staff during the peak holiday season and is headquartered in Hemel Hempstead and Newcastle, UK.
Latham & Watkins represents Onex in the transaction with a team led by London corporate partner Mike Bond and finance partners Jay Sadanandan and Dominic Newcomb, with corporate associates Stuart Alford, Claire Higgins and Neil Campbell, and finance associate Shahid Jamil. Advice was also provided on real estate matters by partner Jeremy Trinder and on tax matters by partner Sean Finn with associate Amy Watkins.