Luxury holiday park operator Park Leisure has been sold for £103 million. Private equity firm Midlothian Capital Partners and a consortium of investors have agreed to acquire the business, which was founded by Miles Dewhurst and Gary Molloy 19 years ago.
Upon completion, Gary will exit the business to pursue other avenues and Miles will take up the role of CEO supported by the existing management team as well as MCP. Park Leisure operates ten holiday home parks across the UK with a turnover of £58 million and 350 staff.
Gary Molloy, CEO and co-founder of Park Leisure, added: “After 19 dedicated years I have decided to take a back seat and exit the business over this coming season. The company started from an office in a bedroom in my house and has steadily grown ever since. “I have very much enjoyed working with Andrew and the MCP team, and wish them, as well as Miles and the Park Leisure team the very best for the future.”