Private equity firm buys holiday parks operator
Holiday park operator Bridge Leisure is to be given funds to expand following a buyout by the existing management team alongside private equity firm Phoenix Equity Partners.
It has already announced it is acquiring a fourth park, Silver Sands near Lossiemouth in Scotland.
Phoenix said it will provide funds for Bridge to develop its existing parks, Trevella, Sand le Mere and Turnberry, as well as to buy new ones.
Bridge Leisure, based in Milton Keynes, will continue to be run by the current management team led by chief executive Andrew Howe.
David Burns, managing partner at Phoenix, said:"[Bridge Leisure] is a well-run business with a strong management team, in what is an attractive and highly fragmented sector.
"We are confident that we will work well together with Andrew and his team to grow the business. The Silver Sands acquisition is a first step towards meeting that objective."
Howe added: "As we look to further expand the business both organically and through acquisitions, we’ll benefit strongly from their experience of helping companies grow."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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