Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that it has sold Siblu Villages (“Siblu” or “the Company”) to Naxicap Partners (“Naxicap”).
Siblu is the undisputed market leader in owner-occupied holiday villages in France. It operates 22 holiday villages across France and the Netherlands comprising c.11,700 pitches. Over the course of its 4-year ownership, Stirling Square substantially expanded Siblu’s operating footprint in France through five park acquisitions and five land acquisitions, and entered the Dutch market with two park acquisitions. Overall, pitch capacity grew by 45% while pitch yield management was substantially improved across all parks. Since its acquisition in August 2015, Siblu’s EBITDA has nearly doubled from €20m at entry to €39m at exit.
Julien Horreard of Stirling Square said: “It has been a true pleasure to work with CEO Simon Crabbe and his team. Today Siblu is the undisputed market leader in France, with a clearly defined pathway of future growth and consolidation in France and the Netherlands. We are delighted with the transformation we have achieved alongside the management team over the past four years, and wish them the very best in their next chapter with Naxicap.”
The transaction has been approved by the relevant workers’ council of Siblu and is still subject to competition and other regulatory approvals. It is expected to close in October.
Stirling Square was advised by Harris Williams & Co (financial) and Kirkland & Ellis (legal).
Siblu owns and operates 14 premium 4* holiday parks in France where it is the market leader in the owner-occupier model of site management
Transaction marks the pan-European private equity investor’s third acquisition from its Third Fund
7th August 2015 – Stirling Square Capital Partners (“Stirling Square”), the leading pan-European lower mid-market private equity firm, today announces the acquisition of Siblu Holdings Limited (“Siblu”), the French market leader in owner-occupied holiday parks. The company owns and operates a portfolio of 14 large, high-end holiday villages, with over 8,000 pitches and with sites located across Normandy, the Brittany coastline, the west of France, the Loire Valley and the Mediterranean coast.
Siblu boasts excellent brand recognition and customer satisfaction, and enjoys a unique strategic positioning, being the only pure player in the French market focused on the high-visibility, lower cyclicality owner-occupied business model. Siblu head office is at Pessac, near Bordeaux and the company employs almost 300 people permanently and considerably more temporary staff in the peak holiday season.
Under the leadership of a broad senior executive team headed by CEO Leslie Hurst and supported by Stirling Square, organic and acquisition growth opportunities will be pursued.
Julien Horreard of Stirling Square said of the acquisition: “Siblu’s unique business model combined with its leadership position are attractive fundamentals and provide an excellent platform from which to grow the business. Together with the management team, Stirling Square is committed to implementing an ambitious growth plan for the future and we look forward to being a part of Siblu’s continued success.”
Leslie Hurst, Siblu CEO since 2004, added: “We are delighted to have gained the support of the entrepreneurial and committed team at Stirling Square. They also bring a broader European focus to our endeavours and will be well qualified to assist us in our continuing development.”