£25m deal sees two East Mids leisure destinations sold
Two East Midands leisure destination have been bought in a major deal worth at least £25m.
UK holiday park operator Coppergreen has bought Clumber Park in Nottinghamshire and Kenwick Park Golf Hotel and Spa and Lodge Park in Lincolnshire, doubling the size of its portfolio. Investment vehicle BGF has pumped a further £10m of growth capital into the firm, while HSBC has provided £15.3m towards the purchases and general group capital expenditure. The new funding takes BGF’s total investment in Coppergreen to £21m.
Kenwick Park, in the Lincolnshire Wolds, currently has 90 lodges and a 34-room hotel and spa. The Clumber Park site which is adjacent to a National Trust country park in the Dukeries near Worksop has planning permission for 129 lodges and a shop, gym, swimming pool, restaurant and reception. Development of this new holiday park will start immediately and will create 120 new jobs.
David Copley, CEO of Coppergreen said: “The acquisition of Kenwick Park and Clumber Park are fantastic additions to the group and fit perfectly with our mission to provide visitors with quality accommodation in some of the most beautiful settings in the UK.
“The development of both Woodland Lakes and Piperdam have resulted in increased bookings over the past two years and we’re delighted by the positive response from both new and returning visitors.”
“BGF’s first investment was instrumental in the first phase of our expansion, and the new investment now enables us to continue our growth plans at pace, with the continued support of the BGF team.”
Coppergreen also owns and operates Woodland Lakes in North Yorkshire and Piperdam Golf & Leisure Resort in Scotland. The group is led by co-founders David and Donna Copley
Coppergreen and BGF were advised by Castle Square (Kevan Shaw and Steve Bell), Shoosmiths (James Foster and Natalie Hager), Dow Schofield Watts (Rob McCarthy) and Addleshaws (James Tatro). HSBC were advised by Keebles.
