The £1.6bn auction of Parkdean Resorts has been put on hold until the economic climate improves.
Onex Corporation, the Canadian private equity owner of the holiday park operator, has paused the process even though it said the domestic holiday market was booming.
Onex bought Parkdean in 2016 for £1.35bn and has invested more than £110m in the business over the past six months, acquiring new land for development and upgrading accommodation.
“Given the current broader macro-economic uncertainty, the board has decided to pause the process and will revisit when the macro-economic backdrop has improved,” it said.
The Morgan Stanley-run auction had elicited interest from PAI Partners and TPG, working together, as well as Apollo Global Management.
The company, which has 66 holiday parks, was created in 2016 through the £960m merger of Parkdean Holidays and Park Resorts. Later that year plans for a flotation were scrapped and it was acquired by Onex.
