Wyndham Worldwide Exchange acquires Hoseasons from HgCapital for $60m
23 February 2010
Wyndham Worldwide’s Exchange & Rentals business unit has agreed to acquire Hoseasons Holdings from HgCapital and a number of individual parties.
The acquisition
price is approximately $60 million, net of estimated cash acquired.
The transaction
is subject to the consent of the Financial Services Authority (FSA), which the
companies hope to obtain before the end of the first quarter. Wyndham Worldwide
expects this acquisition to be accretive in 2011.
Hoseasons
provides a wide range of holiday offerings in over 15,000 lodges, cottages,
villas, caravans and boats across seven European countries.
“The purchase of
Hoseasons is a great example of how we are deploying a portion of our free cash
flow to supplement organic growth with opportunistic acquisitions” said Stephen
P. Holmes, chairman and CEO, Wyndham Worldwide.
He added that
Hoseasons offers “a strong strategic fit” with Wyndham’s European rentals
business and “an attractively-priced opportunity to continue to grow our
fee-for-service businesses”.
