PALANTINE EXITS VERDANT LEISURE

SINCE INVESTING in the business five years ago, Palatine has supported Verdant Leisure to acquire six additional sites.

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.