CVC's Away Resorts to Be Taken Over by Creditors HPS, Permira
CVC Capital Partners Plc is set to turn over control of Away Resorts, a UK holiday home operator, to lenders HPS Investment Partners and the credit arm of Permira Holdings, people with knowledge of the matter said.
CVC bought a majority stake in Away Resorts in June 2021 for a reported £250 million ($322 million), through CVC Capital Partners Fund VIII, when the pandemic was fueling demand for outdoor vacations close to home. The operator has more than 20 holiday-rental parks across the country, including in scenic spots like Cornwall and the Isle of Wight, according to its website.
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