A leisure brand with a portfolio of holiday parks in the South West has been acquired for an undisclosed sum.
Lakeshore Leisure Group (LLG) and the three Devon sites it operates - Clawford Lakes near Holsworthy, Lakeview Manor near Dunkeswell and Otter Falls near Honiton - have been sold by Kings Park Capital (KPC) to a new UK subsidiary of European campsite group Capfun.
LLG was formed in 2019 when the group’s management partnered with KPC to invest in the sites, with the business also agreeing this year to buy a second greenfield site on the North Devon coast, Clovelly Falls.
KPC said despite disruption to trading caused by the Covid-19 pandemic in 2020 and 2021, it had made “significant '' follow-on investments into its parks, including the addition of further holiday lodge pitches and a “transformational” 78-acre greenfield development at Clawford Lakes.
KPC said the exit delivered a 3x money multiple and an internal rate of return of 46% for its investors.
LLG’s chief executive Mr Twiss said: “In a relatively short period of time, we have as a team been able to establish an innovative and enviable brand in the UK holiday market that truly provides a unique experience for the guest.
“Our ability to achieve this was in many ways facilitated by the team at KPC, who wholeheartedly supported the vision and backed myself and the team to deliver it.”
KPC partner Artjom Dashko added: “LLG’s performance is a testament to the quality of its management and its differentiated holiday offering.
“With proven organic growth opportunities and the ability to transform existing and greenfield sites, the business represents an excellent platform for developing a leading player in the domestic holiday market, and we are proud to have played a role in launching the business alongside Stephen Twiss.”
The shareholders were advised on by KPMG Corporate Finance and Burness Paull, and management were advised by Wyvern Partners.
KPC previously partnered with LLG’s management team to create the Milton Keynes based Bridge Leisure Parks in 2010 which owned parks across the UK including Cornwall and Devon.
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