Aermont Completes $1.03 Billion Cash Purchase of Park Holidays
Sun Communities closed the sale of its UK holiday-park business, leaving it a pure-play North American MH and RV owner and operator.
Panther Bidco Limited, an affiliate of Aermont Capital, completed the all-cash purchase of Park Holidays from Sun Communities, Inc. (SUI) for net cash consideration of approximately $1.03 billion.
The closing completed a process Sun Communities began announcing in May, when it entered a definitive agreement to sell its UK assets, including Park Holidays, to funds affiliated with Aermont in an all-cash transaction with an enterprise value of £768 million, or approximately $1.03 billion. Total cash consideration at closing was subject to customary locked-box adjustments, inclusive of Park Holidays’ cash profits up to completion.
With the transaction complete, Sun is positioned as a pure-play North American manufactured-housing and RV-focused owner and operator. The REIT said the sale lets it focus on its core North American MH and RV portfolio and further enhance financial flexibility.
Charles Young, Sun’s Chief Executive Officer, commented: “I want to thank the Park Holidays team for their commitment, partnership and contributions throughout our ownership, and for the professionalism that made this a smooth and orderly closing. We are proud of what we built together and wish the team continued success in this next chapter under Aermont’s ownership. The sale of Park Holidays positions Sun to execute on our strategy of driving long-term, durable growth through our best-in-class North American MH and RV platform, backed by a flexible, low-leverage balance sheet.”
The UK exit is the latest step in a multi-year repositioning. In February 2025, Sun agreed to sell Safe Harbor Marinas, the largest marina and superyacht servicing business in the United States, to affiliates of Blackstone Infrastructure for an all-cash purchase price of $5.65 billion. That deal closed in April 2025, with pre-tax cash proceeds after transaction-related costs of approximately $5.25 billion, and was described as accelerating Sun’s strategy of focusing on its core MH and RV portfolio.
As of March 31, 2026, Sun owned, operated, or had an interest in a portfolio of 515 developed properties comprising approximately 179,300 developed sites in the United States, Canada, and the United Kingdom. The Park Holidays sale removes the remaining UK holiday-park operations from that footprint and completes the shift Young framed as a North American MH and RV platform with a flexible, low-leverage balance sheet.