Two Become One In Multi-Million Pound Merger
Two of the UK’s leading names in the leisure lodge and park residential manufacturing industry have formally merged as part of a multi-million refinancing deal.
The restructure of Prestige Park & Leisure Homes and Homeseeker Park & Leisure Homes provides a long-term capital solution that will enable the two businesses to amalgamate.
The major shareholders and senior managers of both businesses have invested into the new company with a £13 million funding injection provided by Praesidian Capital to support growth plans in the rapidly expanding UK leisure market. The merged companies will continue to trade under their separate Prestige and Homeseeker brand names.
Commenting on the transaction, Silvano Geranio, founder shareholder of Prestige Park & Leisure Homes, said: “Prestige and Homeseeker are long-established and high-quality manufacturers supporting both the growing leisure markets and the supply of suitable homes for the ageing population. This investment will help to facilitate and drive our new product development and new market strategy.”
Debbie Foulke, Shareholder and Managing Director of the company, added: “The partnership with Praesidian will allow the two distinct brands to be brought together and will charge the highly experienced
management team with capitalizing on the Company’s future growth potential.”