CLS Holdings sold First Camp Sverige Holding to Norvestor for £28m.

CLS Holdings, a British commercial property investment business, sold First Camp Sverige Holding, Sweden’s leading camping chain, to Norvestor, a leading private equity firm focusing on lower mid-market control investments in the Nordic region, for £28m. The transaction is in line with CLS's strategy to focus on its core business of office properties in the UK, Germany and France and the proceeds will be re-invested in higher yielding commercial property opportunities. Fredrik Widlund, Chief Executive Officer of CLS, commented: "I am delighted that we have been able to turn around First Camp into a profitable business prior to sale. First Camp is an owner and operator of vacation sites in Sweden, and its disposal is in line with the Group's strategy of focusing on our core business of long-term ownership of office properties in the UK, Germany and France."