PE Deals

Onex closes buy of Britain’s Parkdean Resorts for $1.65 bln

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Parkdean is a UK focused self-catering Holiday Park operator with 24 Holiday Parks; fifteen in the South West of England, six in Scotland, two in South Wales and one in Norfolk. Copyright Parkdean Holiday Parks Limited

Canadian private equity firm Onex Corp has wrapped up its acquisition of Parkdean Resorts UK Ltd, an owner and operator of caravan holiday parks across England, Scotland and Wales. The deal, announced in December, saw Onex buy the business for about US$1.65 billion (£1.35 billion). Onex Partners IV and co-investors made an equity investment of US$627 million. Parkdean was previously a portfolio investment of Electra Private Equity, a U.K. private equity firm.

PRESS RELEASE

Onex Completes Acquisition of Parkdean Resorts

London, United Kingdom, March 3, 2017 – Onex Corporation (“Onex”) (TSX: ONEX) today announced it has completed the acquisition of Parkdean Resorts for £1.35 billion. Parkdean Resorts is a leading operator of caravan holiday parks in the United Kingdom. Onex Partners IV and certain limited partners as co-investors made an equity investment of $627 million. Onex’ share of the investment as a Limited Partner in the Fund and as a co-investor was $170 million.

About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Company has approximately $24 billion of assets under management, including $6 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex invests alongside its fund investors and is the largest limited partner in each of its private equity funds.

Onex’ businesses have assets of $44 billion, generate annual revenues of $29 billion and employ approximately 161,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. The Company’s security filings can also be accessed at www.sedar.com.

For further information:
Laura Carrigan
Director, Investor Relations
Tel: 416.362.7711

Photo courtesy of Parkdean Resorts