Naxicap Partners, subsidiary of Natixis Investment Managers*, becomes the new majority shareholder of Siblu Villages (“Siblu”)after the exit of Stirling Square Capital Partners. Founded in 1975, Siblu is the undisputed market leader in operating owner-occupied holiday villages across mainland Europe,operating 22 sites in France and the Netherlands,comprising of c.11,700 pitches. The Group’s business model relies on three interconnected activities: the sale of mobile homes, the rental of holiday village pitches, and the sale of holidays.

Since 2015 and the acquisition by Stirling Square Capital Partners, Siblu has substantially expand edits operating footprint with five park acquisitions and five extensions in France and two park acquisitions in Holland, growing the total pitch capacity byover45%. The group has also substantially improved its pitch yield management across the estate through new turnkey commercial offers.

The French campsite market is the largest in Europe with c.900,000 pitches (22% of which are owner-occupied) and c.125 million nights sold in 2018. The sector has shown strong dynamism from 2010 to 2018,with campsites revenue increasing by 4.7% p.a. sustained by a growing demand of nights and a shifting towards 4-and 5-star sites, which offer better equipment and services. With more than 85% of sites being independent, the market is conducive to consolidation and the management team intends to pursue an active acquisition strategy, both in France and in Europe.

Backed by Stirling Square Capital Partners for 4 years, the management team chose Naxicap Partners for their next phase of growth. “It has been a true pleasure to work with CEO Simon Crabbe and his team. Today Siblu is the undisputed market leader in France, with a clearly defined pathway of future growth and consolidation in Northern Europe. We are delighted with the transformation we have achieved alongside the management team over the past four years, and wish them the very best in their next chapter with Naxicap”, commented Julien Horreard, Partner, Stirling Square Capital Partners.

“Siblu has shown an outstanding track record in implementing its business model both through organic and external growth. We are excited to stand by CEO Simon Crabbe and his team for this upcoming phase of development of the Group,” commented Angèle Faugier, Managing Director, Naxicap Partners.“After four successful and rewardingyears working towards the realisation ofour vision with the support of Stirling Square, the team and I arelooking forward to continuing to build on this success with the help of Angèle and all the team at Naxicap Partners.”commented Simon Crabbe CEO Siblu

Contacts:

Company: Siblu

Simon Crabbe, CEO

Laurent Bory, CFO

Investor: Naxicap Partners

Angèle Faugier

Caroline Lachaud

Philippe Predhumeau

Sarra El Mghari Tabib

Thomas Picquette

Marine Bussienne

Hugues Martin-Montchalin

Seller: Stirling Square Capital Partners

Julien Horreard

Jonathan Heathcote

Matteo Nichil

Amélie Mazurier

Buy-side M&A advisor: DC Advisory

David Benin

Nicolas Cofflard

Thomas Brulé

Anastasia Saldi

Joachim Canonne