Luxury holiday park business acquired
Coppergreen Leisure Resorts has been acquired by Away Resorts, which is backed by CVC Capital Partners Fund VIII.
The Sheffield-headquartered luxury, family-run holiday park business will be incorporated into Away Resorts plans to form the UK’s leading staycation provider.
The deal also marks the successful exit of BGF from the business which operates four parks across Yorkshire, Scotland, Lincolnshire and Nottinghamshire, following an initial £21m investment in November 2016.
Over the last five years BGF’s funding has allowed the business led by Donna and David Copley, CFO and CEO respectively, to make three acquisitions, build additional lodges and on-site facilities across all four parks and develop a pipeline of two greenfield sites, which are currently in the planning process.
The growth capital has been put to work developing each park to a high specification, which offer high-quality lodge accommodation for short and long breaks. Enjoyed primarily by families, the sites – which include Piperdam Leisure Resort, Kenwick Park Estate, Woodland Lakes Lodges and Clumber Park Lodges – have outdoor hot tubs, luxury indoor saunas and pet-friendly accommodation in relaxing waterside locations. The resorts provide activities such as soft play, golf, fine dining and fitness, as well as function and wedding facilities.
David Copley said: “BGF have been fantastic partners – in their initial and follow-on investments, as well as their unwavering support of our vision for Coppergreen. We had an ambition to expand considerably, while maintaining the exacting, high standards our customers choose us for.
“Over the past two years, we’ve had to adapt our plans and have benefitted hugely from a supportive, minority investor with a long-term outlook. From closures to managing a staycation boom, we’ve focused our efforts on looking after our people and investing in systems that will best position the business for the long-term. Today’s announcement is a huge achievement for everybody who has been involved in the business and we look forward to seeing what the team goes on to achieve in its successful next chapter.”
Following a transitional period the husband-and-wife team will also exit the business as part of the transaction.
Barry Jackson, head of BGF in Yorkshire and the North East added: “It’s been a privilege to work with Donna, David and the rest of the team over the past five years and witness the determination, effort and vision it has taken to achieve what the group is today. This deal is a huge success for all shareholders and a fantastic example of what can be accomplished by an ambitious management team with the right plan and a supportive investor. It hasn’t been a straightforward trading period for the travel and leisure industry, but the business has emerged stronger than ever because of its resilience and entrepreneurial culture.”
Carl Castledine, CEO of Away Resorts, said: “We are delighted to be welcoming Coppergreen to the Away Resorts family to support our ambition of forming the leading UK holiday park provider. Coppergreen’s prime locations and leadership in sustainability will further enhance our offer as we look to provide perfect holiday destinations for UK holiday makers.”
Coppergreen was advised Christian Mayo, Stephen Leah and Nick Broadhead of KPMG; James Foster and Natalie Hager if Shoosmiths, alongside Sue Richardson of KPMG FDD and Liam McGuinness of CIL.
