Two international private equity firms are reported to be vying to take over North East holiday park operator Parkdean Resorts.
PAI Partners, the French investor with a £19bn portfolio, and TPG, a Texas-based firm with a £17.9bn portfolio, are thought to have joined forces in a bid for the Gosforth-headquartered firm, which is owned by Canada's Onex Corporation.
Parkdean, which employs about 750 people in Newcastle and runs 66 parks across the country, was acquired by Onex in 2016 for £1.35bn and is rumoured to have been up for sale since October following a pandemic-spurred boom in UK holidays.
