Paris, 18 May 2016 – Funds managed by Apax Partners have signed a definitive agreement with Pragma Capital to acquire the Sandaya group alongside the founders, François Georges and Xavier Guilbert, as well as Sofival, Bpifrance, Société Générale and Arkéa Capital Investissement. The transaction is expected to close before the end of May 2016.
Sandaya is an outdoor accommodation group with 11 four- and five-star campgrounds of more than 300 pitches each in France and Spain. The sites are all in choice locations, mostly on the seashore, with high-quality accommodation (cottages, chalets, cabins and bare pitches) and a wide variety of leisure activities and services. Based in Montpellier, Sandaya employs up to 500 people during the high season.
The company was founded in 2010 by François Georges, ceo of Groupe Acapace, in partnership with Xavier Guilbert and with the FINANCIAL support of Pragma Capital. The group was built up through a series of acquisitions and has added three new sites since the start of this year.
With the support of Apax Partners, its new majority shareholder, Sandaya aims to step up its development in France and elsewhere in Europe. It intends to use an envelope of more than €150m to continue investing at a steady pace in four- and five-star campgrounds that meet its exacting quality standards so as to create a homogeneous group with a strong brand name.
Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with more than €650m in assets under management. Its objective is to provide shareholders with long- term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.
Altamir's investment policy is to invest via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.
In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation (TMT, Retail & Consumer, Healthcare, Business & Financial Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).
Altamir derives certain tax benefits from its status as an SCR ("Société de Capital Risque"). As such, Altamir is exempt from corporate tax and the company's investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.
For more information: www.altamir.fr
Tel: +33 1 53 65 01 74