Shell Vacations LLC, a Northbrook, IL-based leader in the development, sales and operation of vacation ownership properties throughout North America, has received a “substantial” investment from York Capital Management, a leading global investment firm.
As part of the transaction, Shell Vacations completed a recapitalization through which it replaced its existing senior term loan with a York equity interest and a working capital loan.
Simultaneously York acquired a portion of the Company’s existing indebtedness.
The company intends to use the proceeds from the recapitalization to grow its operations and pursue opportunities in related businesses.
Shell Vacations currently operates 23 resorts and over 1,700 employees.