UK – ABN Amro makes 47% IRR on £438m Park Resorts sale to GI Partners

ABN Amro Capital has yielded a 47% IRR and money multiple of 2.4x on the sale of UK caravan park business Park Resorts Group to GI Partners for £438m. ABN Amro acquired GB Holiday Parks in November 2004 for £105m and only a month later bolted on Park Resorts for £165m. Park Resorts had been created in May 2001 when Close Brothers Private Equity purchased 12 coastal caravan parks from Bourne Leisure. During ABN AMRO's holding period the business added 400 new pitches, resulting in an EBITDA increase of 43%.