AXA PE and Capzanine arrange mezz for Village Center buyout
AXA Private Equity and Capzanine have arranged a €37m mezzanine facility for the buyout of French outdoor accommodation company Village Center by 21 Centrale Partners.
The GP acquired Village Center in early August from listed Promeo Group, which continues to hold some of the shares.
Village Center sits in a holding company together with 21's portfolio business Vacances Directes. The entity has created a significant player in Europe's outdoor accommodation market with an expected turnover of €100m this year, 70% of which is attributed to Village Center.
The combined business offers a total of 13,500 mobile homes and 20,500 camping plots on 38 campsites under management.
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