Corporate finance team advise on outdoor activities centre sale
Manchester-based DTE Corporate Finance has acted as advisers on the sale of an outdoor water activity centre to the incumbent management team, led by Matt Pritchard.
The firm advised Prospects Services Limited, part of the Shaw Trust Charity, on the sale of South Cerney Outdoor in Gloucestershire, for an undisclosed amount.
Prior to the sale, South Cerney Outdoor was owned by Prospect Services Limited, which acquired the site from Gloucestershire County Council in 2012.
As one of the oldest and deepest lakes in the Cotswold Water Park, South Cerney Outdoor has a wide range of activities for individuals, groups, schools, and colleges as well as corporate organisations with an educational and development slant to its activities.
The management team at South Cerney Outdoor were keen to buy the business as part of their broader mission to further enhance their vision of delivering activities, education and training for young people and the wider community in partnership with the county council.
DTE says the sale of South Cerney Outdoor has delighted the staff, who are highly qualified and experienced instructors at the centre.
Andy Humphrey, corporate finance director at DTE, said: “It has been a pleasure to again work with a business within Shaw Trust, helping to align their purposes and values to their business activities.
“In particular, this transaction was worth investing in, given the aspirations of Matt and his team.”
Chris Luck, chief executive of Shaw Trust, said: “South Cerney Outdoor is an excellent facility with superb commercial opportunities for growth.
“The trustees and I are pleased Matt Pritchard and his team will be developing these further and that this buyout secures the jobs of the talented staff and future of the centre.”
Caroline Litchfield, corporate partner at Brabners, acted as legal adviser in the deal.