ABN AMRO Capital acquires holiday parks operator Roompot in a secondary buy-out from Dutch private equity firm Bencis Capital Partners. After this sale, management will remain an important shareholder in the company. This investment is the second acquisition of ABN AMRO Capital in the Netherlands this year.
Bencis Capital Partners acquired Roompot in March 2003 and has subsequently pursued a successful growth strategy resulting in doubling both sales and profitability. This growth was accomplished both through autonomous growth and acquisitions of various holiday parks including Weerterbergen, de Katjeskelder and Kijkduin.
Roompot is one of the three largest holiday parks operators in the Netherlands and has already established itself as an accomplished acquirer and integrator of businesses.
Founded in 1965, Roompot now owns 24 mainly seaside holiday parks and employs 750 staff. The company will have a turnover of some EUR 125 million in 2005.
"ABN AMRO Capital has developed a great deal of knowledge in this sector. We have found the right partner to take Roompot to the next level and look out for suitable add-on acquisitions in both the Netherlands and abroad," according to Henk van Koeveringe, CEO of Roompot.
Marc Staal, Managing Director of ABN AMRO Capital in the Netherlands, said:
"Roompot is excellently positioned to further accelerate growth, given its scalable business model and track record as a leading consolidator in the Dutch holiday parks market."
ABN AMRO Capital believes the European holiday parks market offers attractive consolidation potential and has already built a presence in the UK holiday parks market last year with the acquisitions of GB Holiday Parks and Park Resorts.
Jeroen Pit, Managing Partner at Bencis Capital Partners, said:
"The Roompot investment clearly demonstrates the Bencis approach to substantial value creation. Together with management we have grown Roompot into the clear consolidator in the Dutch holiday parks market."
The acquisition is ABN AMRO Capital's second in the Netherlands this year, following its purchase of a majority stake in Dutch textile services company Fortex last month.
In Europe ABN AMRO Capital has made 6 buy-outs amounting to 1.3 billion and has realized 3 exits this year.
Source: ABN AMRO