February 5, 2020
Private equity firm CBPE Capital has sold its investment in ABI Holiday Homes to the company’s management team, with Pricoa Private Capital taking a minority stake. The sale has delivered a 3x return on investment and an IRR of 36.9%.
ABI manufactures caravan holiday homes in Beverley, East Yorkshire, where it employs over 500 people. It is the second largest supplier into the UK market by volume and supplies all the major holiday park groups, as well as independent parks and UK dealerships.
CBPE invested in ABI in May 2016 and since then the business has expanded its manufacturing facilities and entered the twin lodge market.
Richard Jones, CEO of ABI, said: “CBPE have been a great partner for ABI and together we have delivered strong financial growth, as well as significant investment into our facilities in Beverley. ABI today is a thriving business and, as a management team and shareholders, we are excited about what the future has in store.”
Tom Biddle, Partner at CBPE, added: “We are delighted to have supported management to build the superb business that ABI is today. ABI was the first investment in CBPE Fund IX and has consistently outperformed our expectations throughout the investment period.”