Phoenix Equity Partners has agreed to buy Bridge Leisure, a UK-based holiday park operator, No financial terms were disclosed for the transaction, which will also include Bridge Leisure acquiring Silver Sands Holiday Park. Ares Management and RBS will provide debt financing for the deal.
Phoenix Equity Partners (“Phoenix”), a leading UK middle-market private equity firm, announces an agreement to acquire Bridge Leisure, the holiday park operator, alongside the current management team led by CEO Andrew Howe. As part of the transaction, Bridge Leisure is simultaneously acquiring Silver Sands Holiday Park which is located near Lossiemouth in Scotland.
Headquartered in Milton Keynes, Bridge Leisure was founded in 2008 as a holiday park consultancy and management business initially focused on operating leisure parks for third parties. In 2010, with the backing of Kings Park Capital, the team expanded into the operation of owned parks with the acquisitions of Trevella and Sand Le Mere. They acquired the group’s third park, Turnberry, at the end of 2012. Silver Sands will be the fourth park owned and operated by Bridge Leisure.
Phoenix will support the growth of Bridge Leisure through further developing its existing parks and providing capital for new acquisitions.
Phoenix has strong experience of partnering with management teams to grow businesses, across a variety of sectors. It also has experience of the holiday park sector, having successfully invested previously in Weststar Holidays.
David Burns, Managing Partner at Phoenix, said:
“We are delighted to be investing in Bridge Leisure. It 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.”
Andrew Howe, CEO of Bridge Leisure, said:
“We are very pleased that Phoenix will be supporting Bridge Leisure going forward, as we look to further expand the business both organically and through further acquisitions. We will benefit strongly from their extensive experience of helping companies to grow.”
Ares Management and RBS will be providing debt funding for the transaction.
About Phoenix Equity Partners (www.phoenix-equity.com)
Phoenix is an independent private equity fund management business. Phoenix is owned by its executive team. Phoenix’s investment focus is on mid-market UK private businesses valued at up to £200 million.
Phoenix invests across a wide range of sectors, backing entrepreneurs to build great businesses. Recent investments include:
· Riviera Travel (Consumer, Leisure and Retail)
· Just Childcare (Healthcare and Education)
· Key Retirement Group (Financial Services)
Other recent Phoenix transactions include the sale of Precise Media Group, the media monitoring business, to WPP plc, and the sale of NFT Distribution Operations, the UK market leader in chilled food distribution, to EmergeVest.