Sun Communities, Inc. · NYSE:SUI
Sun Communities — Merger or Acquisition (November 2021)
12 slides from Sun Communities's merger presentation, Nov 15, 2021
Slide 1: Acquisition of Park Holidays UK
Exhibit 99.2 Acquisition of Park Holidays UK November 2021
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This presentation has been prepared for informational purposes only from information supplied by Sun Communities, Inc. (“we”, the “Company” or “Sun”) and from third-party sources indicated herein. Such third-party information has not been ind
Slide 3: Vacation Home Resorts
VACATION HOME RESORTS Winchelsea Sands – Winchelsea, Sussex Alberta – Whitstable, Kent Waterside – Paignton, Devon Chichester Lakeside – Chichester, Sussex St. Osyth Beach – Clacton-on-Sea, Essex Hengar Manor – Bodmin, Cornwall Seaview – Whitstable, Kent Landscove – Brixham, Devon Marlie – New Romne
Slide 4: £950MM ($1,274MM) Acquisition of Park Holidays UK
£950MM ($1,274MM) ACQUISITION OF nd Sun to Acquire Park Holidays UK, the 2 Largest UK Holiday Park Owner & Operator § Owns and operates 40 communities, comprising 15,326 sites, and manages two communities on behalf of third parties § High quality, mostly seaside communities throughout the affluent S
Slide 5: Leading UK Community Platform
LEADING UK COMMUNITY PLATFORM § High quality portfolio located in high barrier to entry markets #2 Complementary to Existing Sun Platform 42 2,400 15.3k Operator in Holiday Expansion UK by # of (1) Total sites communities Sites communities § Installed base of ~12,300 owner-occupied sites under licen
Slide 6: Experienced, Long-Tenured Management Team
EXPERIENCED, LONG-TENURED MANAGEMENT TEAM § The Park Holidays team will join Sun and continue to drive day-to-day operations and identify future investment opportunities (1) Years of Experience # # Years at Park Holidays Jeff Sills Adrian Fawcett Chief Executive Officer Non-executive Chairman § Earl
Slide 7: Why Park Holidays?
WHY ? Complementary to Sun’s Existing US Manufactured Housing and RV Business Market-Leading Platform with Recognized Brand Attractive Operating Model Generates Consistent Cash Flow Coghurst Hall – Hastings, Sussex Resilient Business Has Successfully Operated Through Multiple Economic Cycles Favorab
Slide 8: UK Park Market at a Glance
UK PARK MARKET AT A GLANCE (1) Britons increasingly plan domestic holidays ~£5bn total market value in 2021 (3) vs. international travel 75% of the current market is within a Brexit increased the burden for UK citizens to (2) 90-minute drive of a Park Holidays community travel to and own property in
Slide 9: Nearly Identical Business Model to Sun's
NEARLY IDENTICAL BUSINESS MODEL TO SUN’S § Creating long-term, stable rental revenue streams through rental increases, home sales, occupancy gains and the development of expansion sites § Embedded 2,400 zoned and entitled sites equates to 16% expansion of current sites Site Rental Income Vacation Re
Slide 10: Expansion of Sun's Geographic Footprint
EXPANSION OF SUN’S GEOGRAPHIC FOOTPRINT § With the acquisition of Park Holidays, we have further strengthened our position as the leading global manufactured housing, RV and marina platform § Meaningful scale across all of our businesses and geographies leads to operating efficiencies and access to
Slide 11: Park Holidays UK is a Highly Compelling Acquisition
IS A HIGHLY COMPELLING ACQUISITION UK Operating Model Very Similar to Sun’s US MH and RV Businesses § “Sticky” revenue and customer base that owns a home and pays site rent § Guests renting vacation homes at communities are prime customers for conversion to ownership model Favorable UK Macroeconomic
Slide 12: Vacation Home Resorts
VACATION HOME RESORTS Harts – Isle of Sheppey, Kent Trevella – Newquay, Cornwall Rye Harbour – Rye, Sussex Wood Farm – Charmouth, Dorset Alberta – Whitstable, Kent Bowland Fell – Skipton, Yorkshire Ashbourne Heights – Ashbourne, Derbyshire Tarka – Barnstaple, Devon Dovercourt – Harwich, Essex 11
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