Caravan site company Park Holidays for sale for more than £250m
Private equity firm Caledonia Investments has put caravan park operator Park Holidays up for sale with a price tag in excess of £250 million.
Caledonia has hired PwC to help assess its options, with the most likely outcome expected to be a sale to another private equity company.
Park Holidays is Britain's fourth largest caravan operator and is set to see earnings rise to £35 million this year. The price tag represents a significant increase on the £172 million that Caledonia paid for the firm in 2013.
Sources close to the situation suggested a deal could be struck within the next three months, with several parties already having expressed an interest.
Park Holidays boasts 25 holiday parks in the South of England and its performance has been buoyed by a rise in so called "staycations" among Britons. According to data from VisitEngland, £1.9 billion was spent on holiday parks and caravan trips in 2015.
The move comes after the merger of Park Resorts and Parkdean Holidays in a £960 million deal conducted by private equity firm Electra last year.
All parties declined to comment.