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| Illustration: David Manion |
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Talking about caravans can sometimes be interesting. In December last year, Canadian private equity group Onex Corporation bought Parkdean Resorts, the UK’s largest caravan park business, from Electra Private Equity and Alchemy Partners, for £1.35 billion ($1.69 billion).
The acquisition was funded by a senior loan from five banks, totalling £600 million, and a £150 million second-lien loan provided by alternative asset manager Ares. The leverage was fairly punchy at 6.25
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