Clearwater International advises Primonial REIM on the acquisition of a portfolio of campsites operated by Vacanceselect
Clearwater International has advised the leading real estate investor, Primonial REIM (Primonial), on the acquisition of a portfolio of nine high-end campsites operated by Vacanceselect, one of the European leaders in the outdoor accommodation sector.
Starting as a family business over 35 years ago, Vacanceselect has grown to become the number one camping holiday provider in Europe. With more than 1,200 holiday destinations throughout 16 European countries, Vacanselect campsites are carefully selected based on location, hospitality, services and ambience. With a team of around 2,000 employees across all European offices and campsites, the company strives to provide the best service and an enjoyable holiday with more than 31,000 camping accommodation options ranging from glamping tents to luxury mobile homes.
In conjunction with the acquisition of the portfolio, Primonial entered into long-term lease agreements with Vacanceselect, enabling the group to ensure the sustainability of its operations.
This transaction allows Vacanceselect to generate cash in order to finance its future growth and reduce its indebtedness and, marks a new step in the group's development while securing the long-term management of its most premium campsites.