Onex Corp. agreed to acquire Parkdean Resorts, a U.K. operator of caravan holiday parks, for £1.35 billion.
Parkdean Resorts operates 73 caravan holiday parks across England, Scotland and Wales. The company is headquartered in Hemel Hempstead and Newcastle in the U.K.
The transaction is expected to close in the first quarter of 2017, subject to regulatory approvals.
Onex Partners IV and Onex have committed to make an equity investment of about $750 million.