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Abu Dhabi’s Adia buys stake in European Camping Group

By Sunil Singh
European Camping Group operates 450 holiday sites in 11 countries Supplied/ECG
European Camping Group operates 450 holiday sites in 11 countries
  • Adia agrees minority stake
  • More than 450 campsites
  • Revenue growing at 15%

The UAE’s sovereign fund Abu Dhabi Investment Authority (Adia) has agreed to buy a significant minority stake in European Camping Group (ECG), a key player in the European outdoor hospitality sector, from private equity company PAI Partners. 

The deal, expected to close in the second quarter of this year, is subject to regulatory approvals, ECG said in a statement on Monday.

Financial details of the transaction were not disclosed.

PAI invested in the company in 2021 and since then ECG has expanded from 280 to more than 450 campsites and holiday parks across 11 countries, including France, Italy and Croatia, while tripling earnings. 

The group – home to brands such as Eurocamp and Homair – now operates 56,000 pitches and 48,000 mobile homes, with revenue growing 15 percent annually.

“ECG has successfully built one of Europe’s leading outdoor accommodation groups, driven by its strong and experienced management team. This investment, alongside a proven partner in PAI, aims to support and accelerate the growth of the business,” Hamad Shahwan Aldhaheri, executive director of the private equities department at Adia, said in a press statement.

The deal comes as the Middle East’s sovereign investors increasingly target European leisure assets, with Adia acquiring a stake in Spanish hotel group Melia Hotels International in August 2023.

Adia is the investment vehicle of the Abu Dhabi government and manages assets in excess of $1.1 trillion.

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