Park Holidays UK Under New Ownership
Investment trust company Caledonia Investments Plc, has acquired a majority stake in Britain’s fourth largest caravan holiday park operator Park Holidays UK.
The transaction values Park Holidays UK at £172 million, and the company will now benefit from a £10m acquisition and capital expenditure fund which has been put in place to assist future expansion.
The change of ownership will allow Park Holidays UK to strengthen the business through internal investment, and grow its portfolio of parks through careful acquisition within the UK.
Park Holidays UK has been run by its current management team of Jeff Sills (chief executive), Al Loch (chief financial officer) and Tony Clish (sales and marketing director) since January 2006, when they acquired the business from its founders through a management buy-in backed by funds managed by Graphite Capital. The company has since grown and now owns and operates 21 freehold and two leasehold holiday parks in the South of England.
Jeff Sills, chief executive officer of Park Holidays UK, commented: “Caledonia is acquiring a leading participant in the UK holiday market with excellent growth prospects. Caledonia’s forward-looking investment model will ensure that we can continue to enhance and expand our park portfolio, and I look forward to a long and rewarding relationship with them.
“I would also like to thank Graphite Capital which has provided Park Holidays UK with the support and encouragement which has enabled us to develop the business to where it is today,” he added.
Commenting on the acquisition, Duncan Johnson, Caledonia’s head of unquoted investments, said: “We are delighted to be supporting Jeff Sills and his team in the next stage of Park Holidays UK’s development. The new capital structure will ensure that Park Holidays UK can continue to enhance its existing parks throughout the South of England, and allow Jeff and his team to build the business through targeted acquisitions.”