PALANTINE EXITS VERDANT LEISURE
PALATINE Private Equity has exchanged contracts for the sale of its stake in Verdant Leisure, the award-winning holiday park operator, to the management team backed by Pears Partnership Capital. The deal is subject to FCA approval.
Verdant Leisure is a bespoke holiday park operator offering lodge and caravan holidays and holiday home ownership at stunning sites across Scotland and Northern England.
The sale will see Palatine exit the business with a returns multiple of 3.7x, following a highly successful strategy of acquisitions and value creation which has grown Verdant’s annual turnover by 150% since 2016. Since investing in the business in April 2016, Palatine has supported Verdant to acquire six additional sites, increasing its footprint to 10 locations and 3,500 pitches, making it a leading operator in the UK.
Management’s value creation focus has increased both holiday home sales and the proftability of Verdant’s holiday let operations by enhancing on-site leisure facilities and investing in central management functions including a new head office and customer service contact centre.