ActoMezz-backed MS Vacances bolts on Les Tamaris

Alice Tchernookova
23 February 2017

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French luxury camping resort manager MS Vacances, backed by ActoMezz – the mezzanine division of Edmond de Rothschild Investment Partners (EdRip) – has completed the acquisition of camping group Les Tamaris.

The acquisition is the first of two planned by MS Vacances this year. A capex line was put in place to finance the acquisitions last year, when ActoMezz first backed the company.

The add-on of Les Tamaris was partially funded by the capex line, as well as a financing package put in place by a consortium of three banks, including CIC Ouest, according to a company statement.

The Tamaris camping resort is located in the French town of Port-Barcarès, in southern France on the Mediterranean coast, and brings the group an additional 450 camping spots and €2m in turnover. With this addition, MS Vacances' turnover amounts to approximately €13m.

MS Vacances will look to raise the standard of the Tamaris resort to five-star level from its current three, as the parent had done with the Trianon group, acquired in 2012, and with other previous bolt-ons.

When ActoMezz invested, MS Vacances had three resorts under management. Its goal was to grow this number to five in 2017, according to the GP.

Previous funding
In September 2016, ActoMezz (formerly Acto Mezzanine, acquired by EdRip in August last year) supported the management buy-back of MS Vacances, enabling the founding Raimbaud family to reaquire all company shares, from previous minority shareholders Océan Participations, Arkéa Capital and Volney Développement. According to Crunchbase, ActoMezz's investment, made through the ActoMezz 2 vehicle, consisted of a €12m mezzanine package.

ActoMezz's financing included two tranches: the first to reacquire the shares belonging to the three exiting GPs, and a second acquisition line to make two new acquisitions in 2017.

Company
Founded in 1998 by the Raimbaud family, MS Vacances is a luxury camping resort manager.

The groups manages three camping resorts, with a total of 1,500 spots, located in the French Vendée department in the Pays-de-la-Loire region in west-central France by the Atlantic Ocean, and on the Mediterranean coast.

The group also offers a range of services within the resorts. In 2015, its revenues amounted to €11m and had EBITDA of €4m.

People
ActoMezz – Stéphane Bergez (partner/head).