French infrastructure fund Infravia concluded the acquisition of Sandaya’s portfolio, a campsite company present all across Europe, for 400 million euro.
Infravia purchased 50% of the company managed up until now by British fund Apax Partners, which has been a shareholder of the company since 2016. Since then, the company trebled its revenues and bought 21 campsites.
Currently, Sandaya has around 30 centres across different European countries. With the incorporation of Infravia, the company is planning entering new European countries, such as Italy and Holland, according to elEconomista. In Spain, the company is present in the Costa Brava, Catalonia.
Campsites take a run up
This is not the first operation within the alternative holiday segment to take place in Europe in the last few months. Although the holiday and leisure segments were amongst the most impacted by the pandemic, campsites have managed to resist with users seeing them as safe. In Catalonia, Madrid or the Basque Country have had occupancy rates close to 100%.
Another company which has launched itself into this type of investment was Meridia Capital. The company has announced the creation of a joint venture to manage WeCamp, a brand specialised in campsites. The group will own 25% of the company’s shares, whereas the new company’s managing director, Albert Montesinos, and four others manage the remaining 75%.
WeCamp expects to be managing up to ten campsites in the next two years. The company has already carried out its first investment in Santa Cristina d’Aro (Girona) with room for 240 units. Meridia is expecting to renew the asset and open it to the public in 2022.