ICG Enterprise Trust Plc: Portfolio Update
ICG Enterprise Trust plc (the “Company”)
2 March 2023
Portfolio Update
ICG Enterprise Trust investing in European Camping Group
ICG Enterprise Trust plc (ICGT) is pleased to announce that it is investing alongside funds advised by PAI Partners to support European Camping Group’s (ECG) acquisition of Vacanceselect in a transaction that is expected to create the 3rd largest operator of mobile holiday homes in Europe.
The investment is being led by PAI Europe VII and PAI Europe VIII (Funds). ICGT will invest as a limited partner in the Funds and also through a co-investment. This follows the completion of a co-investment in ECG alongside PAI Fund VII in December 2021 and brings ICGT’s total investment in the combined company to €17.7m (£15.6m) on a look-through basis.
ECG is a leading tour operator specialised in the mobile home holiday market, offering its customers over 23,000 high-quality holiday lets located in 300 European destinations. Headquartered in Montpellier, France, Vacanceselect has a broad European presence, operating in over 270 campsites across holiday-making destinations such as France, Italy, Spain and Croatia. Vacanceselect operates more than 22,000 mobile homes under the Tohapi and Vacanceselect brands.
Enquiries
Analyst / Investor enquiries:
Oliver Gardey, Head of Private Equity Fund Investments, ICG
Colm Walsh, Managing Director, ICG
Chris Hunt, Head of Shareholder Relations, ICG
Livia Bridgman Baker, Shareholder Relations, ICG
+44 (0) 20 3545 2000
Media:
Clare Glynn, Corporate Communications, ICG
+44 (0)20 3545 1395
Website:
www.icg-enterprise.co.uk
About ICG Enterprise Trust
ICG Enterprise Trust is a listed private equity investor focused on creating long-term growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US, while offering the added benefit to shareholders of daily liquidity.
We invest in companies directly as well as through funds managed by ICG and other leading private equity managers who focus on creating long-term value and building sustainable growth through active management and strategic change.
We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.
Disclaimer
This report may contain forward looking statements. These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The issuer has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted.
Although this investment does not amount to price sensitive material information, ICG Enterprise Trust is making this information public on an illustrative basis to aid with market understanding of our portfolio. Similar announcements may be made in respect of future non-material investments.
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