Private equity investor takes majority stake in £64m caravan firm

CARAVAN holiday home manufacturer ABI, based in Beverley, has been acquired by private equity investor CBPE Capital.

CBPE has bought the majority stake in the business, which employs 400 people, from LGV Capital.

The company employs more than 400 people and in ABI UK Ltd’s most recent financial accounts, it turned over £64.7m for the year to 31 August 2014.

ABI is a manufacturer of caravan holiday homes and one of the most highly regarded and established brands in the caravan holiday home industry.

It has a factory in Beverley, East Yorkshire where it employs over 400 people and is the second largest supplier into the UK market by volume.

The Livingstone team that advised on this acquisition, previously advised ABI’s management team in 2011 when ABI was sold to LGV.

Mel Copper, chief executive at ABI commented: “The management team are investing alongside CBPE, who have a strong pedigree in the sector and who have agreed to support the business in the next stage of its development. In LGV, the Livingstone team found a great owner for the business, who shared the management team’s vision for growth. When LGV were looking to exit, we had no hesitation to ask for their advice again.”

Michael Mowlem, who led the investment for LGV, reflected: “Our partnership with ABI has been a highly successful one. I would like to thank Livingstone, who provided outstanding guidance and support to the shareholders from start to finish.”

Graham Carberry, partner at Livingstone concluded: “Since advising on the original investment by Mel and his team and LGV, we maintained a close relationship and watched with pleasure as the business continued to grow. To have been able to work with them, and LGV, has been a pleasure. We know in CBPE that management have a partner who will continue to support them, and we look forward to watching the next phase of the company’s development.”

Click here to sign up to receive our new South West business news...
Close