NB Aurora S.A. SICAF-RAIF (“Aurora”), the permanent capital vehicle listed on the MIV professional segment of the Italian Stock Exchange, signed a binding agreement for the sale to The Equity Club (‘TEC’) of its entire share in CDS Holding (Club del Sole), leading Italian open-air tourism operator.

 

The agreement provides for the acquisition by TEC of the entire stake held by Aurora through the vehicle First Club S.r.l. equal to approximately 40% of the share capital of Club del Sole and for a reinvestment by Aurora, together with other funds managed by Neuberger Berman AIFM S.á r.l. and some co-investors, including a subscription of a capital increase to further support the growth of the group. At the end of the transaction, TEC will hold about 30.8%, the Aurora funds about 19%, while the Giondi family, who founded Club del Sole in 1974, will continue to be the majority shareholder and lead the industrial project. The value of the transaction is €109 million. 

 

Club del Sole over the years, has completed a successful path through organic growth and acquisitions, thanks also to the two previous private equity transactions carried out in 2015 and 2018 where Credem Euromobiliare Private Banking had acted as exclusive financial advisor. The company is the leading Italian operator in open-air tourism with 23 camping-villages managed in 7 regions in North-Central Italy and a turnover of around €100 million in 2023.

 

Club del Sole and Aurora were assisted by Credem Euromobiliare Private Banking as financial advisor