Holiday Parks In Multi-Million Buy Out
South Lakeland Parks, which operates nine holiday parks in the Lake District and Morecambe Bay area, has been acquired by Electra Partners, the majority shareholder of Park Resorts, in a £47m deal.
Park Resorts and Electra Partners worked in partnership to secure the takeover deal of the Cumbrian-based business from White Ocean Leisure and its lenders. The acquisition comes only two months after Electra Partners led the refinancing of Park Resorts which will provide significant further investment in the parks to improve facilities across existing holiday parks.
The addition of South Lakeland increases Park Resorts’ portfolio by nine holiday parks, making it the largest holiday parks operator in the UK with 48 sites across England, Scotland and Wales.
South Lakeland Parks was founded in 1988 and was previously known as South Lakeland Caravans until June 2006. Its sites range from traditional caravan parks to larger holiday villages complete with leisure facilities and direct access to Lake Windermere.
David Boden, CEO of Park Resorts commented: “South Lakeland’s nine parks are all high quality and will perfectly complement our existing portfolio. The parks are ideally located for owners and holiday makers to experience some of the most spectacular scenery the UK has to offer.”