Bridge Leisure targets further holiday park acquisitions following management buy out
Holiday park specialist Bridge Leisure has completed a management buyout supported by Phoenix Equity Partners, a leading UK private equity firm.
As part of the transaction, Bridge Leisure is simultaneously acquiring Silver Sands Holiday Park (www.silver-sands.co.uk), located close to Inverness on the east coast of Scotland.
The agreement means that the existing Bridge Leisure management team, led by CEO Andrew Howe, will continue to run the company, which was recently named one of UK’s fastest growing businesses in the annual Sunday Times Virgin Fast Track 100.
Growth through acquisitions
Phoenix will support the growth of Bridge Leisure through further developing its four existing parks and providing capital for new acquisitions.
Andrew Howe, CEO of Bridge Leisure, said: “Our plan is to buy new parks. We have the funding, team and know-how to grow in 2015 and beyond and we welcome contact from park owners interested in selling their business.
“We are very pleased that Phoenix will be supporting Bridge Leisure as we look to further expand the business.”
Silver Sands become fourth Bridge Leisure park
Silver Sands, near Lossiemouth in Moray, is the fourth park now owned and operated by Bridge Leisure.
Says Andrew Howe: “Silver Sands is a wonderful holiday park with direct access to a superb sandy beach, a host of new facilities and a warmer than average climate thanks to the Gulf Stream.
“We are delighted to add Silver Sands to our portfolio of outstanding holiday parks and look forward to growing the business in 2015.”
Bridge Leisure growth
Headquartered in Milton Keynes, Bridge Leisure was founded in 2008 as a holiday park consultancy and management business initially focused on operating leisure parks for third parties.
In 2010, with the backing of Kings Park Capital, the team expanded into the operation of owned parks with the acquisitions of Trevella Park in Cornwall and Sand Le Mere Holiday Village on the Yorkshire coast, followed by Turnberry, in Ayrshire, at the end of 2012.
Phoenix has strong experience of partnering with management teams to grow businesses, across a variety of sectors. It also has experience of the holiday park sector, having successfully invested previously in Weststar Holidays.
David Burns, Managing Partner at Phoenix, said: “We are delighted to be investing in Bridge Leisure. It is a well-run business with a strong management team, in what is an attractive and highly fragmented sector. We are confident that we will work well together with Andrew and his team to grow the business. The Silver Sands acquisition is a first step towards meeting that objective.”