PAI Partners to Sell Minority Stake in European Camping Group to ADIA
Deal News | Mar 24, 2025 | Ropes & Gray
Ropes & Gray has provided its advisory services to PAI Partners in the planned sale of a significant minority stake in European Camping Group (ECG) to the Abu Dhabi Investment Authority (ADIA). Despite this divestment, PAI Partners will maintain its position as the majority shareholder of ECG. The completion of this transaction is pending regulatory approvals and signifies another phase in ECG's development as a key player in the European outdoor accommodation market. PAI Partners first invested in ECG in 2021 and further expanded its stake in 2023 by acquiring Vacanceselect. The collaboration with ADIA is set to underpin ECG's growth trajectory across Europe. The legal advisory team from Ropes & Gray was headed by partner Fabrice Cohen, supported by a team of specialists including Raphal Durand, Alexis Mesnildrey, and Jean-Christophe Urrutia-Calvet.
Sectors
- Private Equity
- Real Estate
- Investment Management
Geography
- Europe – European Camping Group operates within the European market and is a focus of the transaction.
- United Arab Emirates – The Abu Dhabi Investment Authority, based in the UAE, is acquiring a stake in ECG.
Industry
- Private Equity – PAI Partners, a private equity firm, is engaging in a transaction involving the sale of a minority stake.
- Real Estate – The subject of the transaction, European Camping Group, is involved in outdoor accommodation, which is a sub-sector of the real estate industry.
- Investment Management – The Abu Dhabi Investment Authority, as an investment management organization, is acquiring a stake in ECG.
Financials
- Not Disclosed – The financial terms of the sale of the minority stake are not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ropes & Gray | Legal Advisor | Company | Provided legal advisory services to PAI Partners on the transaction. |
| PAI Partners | Selling Company | Company | The private equity firm selling a minority stake in European Camping Group. |
| European Camping Group (ECG) | Target Company | Company | A leader in the European outdoor accommodation sector. |
| Abu Dhabi Investment Authority (ADIA) | Bidding Company | Company | A wholly-owned subsidiary acquiring a minority stake in ECG. |
| Fabrice Cohen | Lead Advisor | Person | Private equity partner at Ropes & Gray leading the advisory team. |
| Raphal Durand | Advisory Support | Person | Private equity counsel supporting the advisory team. |
| Alexis Mesnildrey | Advisory Support | Person | Associate at Ropes & Gray supporting the advisory team. |
| Jean-Christophe Urrutia-Calvet | Advisory Support | Person | Associate at Ropes & Gray supporting the advisory team. |