Further to the announcement of 16 December 2016, Epiris is pleased to announce that following regulatory approvals, it has completed the sale of Parkdean Resorts to Onex Corporation for £1.35 billion.
Electra Private Equity PLC (“Electra”) has received proceeds from the sale of £406 million. Together with proceeds previously received, Electra’s total proceeds from the investment are £516 million. This equates to a return of 3.9x cost, and an IRR of 45%.
Alex Fortescue and Sarah Williams were responsible for the investment and the exit of Parkdean Resorts.
Epiris refers to Epiris Managers LLP acting on behalf of its client Electra Private Equity PLC.
To view this and previous press releases on Parkdean Resorts, please visit the Epiris website by clicking here.