KKR & Co. Inc., the New York City-based American multinational investment fund focused on multiple alternative asset classes, had issued a statement on Thursday saying that the US investment fund with $545 billion worth of total enterprise value, had reached an accord to purchase the Dutch vacation parks firm Roompot from the Paris-based private equity firm PAI partners, nonetheless, neither KKR nor PAI partners had disclosed the financial terms of the deal.
However, a banking source close to the transaction was quoted saying on condition of anonymity that the deal had valued the Dutch vacation parks firm at roughly €1 billion. Nonetheless, although the Paris-based private equity fund had told on October last year that it had been expecting buyout bids for the Roompot, KKR’s interest on the vacation park firm remained concealed.
KKR capitalizes on Pandemic crisis to undervalue Roompot, say industry analysts
Meanwhile, followed by the announcement, analysts were quoted saying that the American investment firm KKR, headquartered in Solow Building, NY, the skyscraper in the 9 West 57th St.
Midtown Manhattan with $148.5 billion worth of assets under its management, might just have snatched Roompot at a much-lower buyout bid considering its capability to generate more than €400 million a year when fully operational, while the analysts had also added that the ongoing pandemic, that had put a pause on travel and tourism industry and could take years to recover, had aided in KKR & Co.
Inc.’s cause. Aside from that, the Dutch vacation parks firm Roompot, the second-largest in Europe operating 33 parks in Netherlands, Belgium and Germany alongside offering services to over 100 operators across the bloc, which the French equity firm had purchased for €600 million back in the 2016s from the Dutch billionaire investor Gilde, generated more than €400 million in annual sales last year, while the 55-year-old Dutch vacation parks firm, employing 2,100 workers across the Europe, had approximately 3 million guests per year since its takeover by the PAI Partners.