The former owner of Formula One and private equity baker of the Six Nations rugby championship has been revealed as one of the parties prepping a takeover bid for Center Parcs, the holiday resorts chain headquartered in Nottinghamshire which was put up for sale last month (May).
According to reports from Sky News, a vehicle managed by CVC Capital Partners is expected to put forward an indicative proposal to buy Center Parcs’ six UK and Ireland sites before a bid deadline later in June.
Infrastructure funds, including Antin, are also exploring offers for the company, according to Sky News’ city sources, who suggest that bids are expected to be in the lower half of a previously reported £4-5bn price range.
If CVC does present an offer, the sources add that it would be through its Strategic Opportunities fund.
Canadian private equity firm Brookfield is selling Center Parcs after buying the business in 2015 for around £2.4bn.
The first UK Center Parcs location opened at Sherwood Forest in Nottinghamshire in 1987. Today, Center Parcs serves over 2 million guests per year with a 98% occupancy rate.
