Holiday park to expand with funding deal

A HOLIDAY homes business has secured funding from Barclays Corporate to help grow the venture.

Leisure Park Management, based in Crowle, near Scunthorpe in North Lincolnshire, will use the structured funding to buy out two shareholders and continue its expansion plans.

The company, based at the 7 Lakes Country Park, has more than 400 holiday homes set within 120 acres of woodland and lakes.

David Keedy, managing director of Leisure Park Management, said: “An opportunity arose to buy back share capital for an undisclosed amount and Barclays were able to finalise and draw down a substantial facility within 10 days.

“The new funding will also allow us to continue with our strategic growth plan developing the holiday accommodation and water leisure activities.”

Leisure Park Management was taken over in 2003 as a park in need of modernisation and over the last seven year has been developed.

The company employs 34 people and anticipates visitors to the site will exceed 1,500 each month.

John Parker, Barclays Corporate relationship director in South Yorkshire, said: “This was an ideal opportunity for us to support a thriving business and we were able to complete the deal within two weeks, enabling David and the team to move swiftly to a speedy completion.”