Emisys invests in Club del Sole buyout

The transaction was led by the company's existing owners via a newco.

Following completion of the deal, Club del Sole will look to consolidate the camping village market and upgrade facilities at its existing locations. It will also look to implement a new management structure.

Capital for the deal was drawn from the GP's maiden fund Emisys Development, a generalist vehicle launched in October 2013 with a €150m target.

Emisys claims to be the first private-equity investor to acquire an Italian-based campsite operator. However, earlier this year Permira acquired a 75% stake in French operator Vacalians Group, which owns locations in Italy, as well as the UK, Spain and the Netherlands.

Company
Forlì-headquartered Club del Sole is a campsite operator founded in 1974. The company's campsites feature recreational facilities and catering, in addition to mobile homes, semi-permanent tents and bungalows.

People
Philippe Minard is a founding partner at Emisys. Riccardo Giondi and Massimo Giondi are owners of Club del Sole.

Advisers
Equity – Ashurst (Legal); KPMG (Financial due diligence); KStudio Associato (Tax); Global Strategy (Commercial due diligence); Willis (Insurance due diligence).
Company – Banca Euromobiliare (Corporate finance); Studio Chiomenti (Legal); Studio Scala-Giondi (Tax); Deloitte (Corporate finance).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Italy