Blackstone refinances Center Parcs
Blackstone has refinanced holiday provider Center Parcs, injecting a further £100m of equity
The £1bn refinancing of Center Parcs replaced the previous debt structure and was secured against the company's current parks. Blackstone has committed a further £100m of new equity to finance the £250m construction of a fifth park.
RBS, Barclays, HSBC, and Lloyds Banking Group have supplied additional debt finance amounting to £150m.
Company
Center Parcs, established in 1987, operates four holiday parks throughout the UK. Based in Newark, UK, the company employs 6,000 staff. It recorded EBITDA of £131m from a £291m turnover in 2010/11.
People
Joseph Baratta is head of European private equity at Blackstone. Martin Dalby is chief executive of Center Parcs.
More on UK / Ireland
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater