Sun Communities has entered into a definitive agreement to sell its U.K. assets, including the Park Holidays business to funds affiliated with Aermont Capital in an all-cash transaction with an enterprise value of £768 million ($1.03 billion).
This strategic transaction enables Sun Communities to fully focus on its core North American mobile home (MH) and recreational vehicle (RV) portfolio while further enhancing its financial flexibility.
“This exciting transaction allows us to focus on and drive growth through our core North American MH and RV platform. We will remain disciplined in our capital allocation approach, which includes investing in our high-quality communities, identifying attractive external MH and RV growth opportunities and returning capital to shareholders,” said Charles Young, Sun’s CEO.
“We would like to thank the entire Park Holidays team for their commitment, partnership and contributions throughout our ownership. We appreciate all
