Canada based PE firm Onex has agreed to acquire Parkdean Resorts for £1.35bn($1.67Bn). The transaction is set to close in the first quarter of 2017.
Parkdean Resorts currently sell more than 500,000 holidays and short breaks annually from their 73 holiday parks across England, Scotland and Wales employing over 6,000 staff during the peak holiday season.
About Parkdean Resorts
Parkdean Resorts is privately held company headquartered in Newcastle upon Tyne, United Kingdom and was formed in November 2015 from the merger of Parkdean Holidays and Park Resorts. Parkdean Resorts own and operate 73 holiday parks across the UK, selling over 500,000 holidays and short breaks.
Parkdean Holidays was founded in November 1999 and operator with 24 parks: fifteen in the South West of England, six in Scotland, two in South Wales and one in Norfolk.
Park Resorts were established in May 2001 and have 48 parks including parks in Scotland, the North East, the North West, Lake District, East Anglia & Lincolnshire, Kent, Devon, Sussex and the Isle of Wight.
About Onex Corporation
Onex Corporation is a private equity firm and holding company based out of Toronto, Ontario. It was founded in 1983.
As of 2016, the firm has over $23 billion of assets under management and employs approximately 152,000 people worldwide.