Palatine Private Equity-backed holiday park group Verdant Leisure has acquired its seventh leisure park.
Crosslaw Caravan Park in the Scottish Borders is the third holiday park purchase in the last nine months for the bespoke leisure park operator.
The park will be renamed Coldingham Bay Leisure Park with immediate effect and it brings Verdant Leisure’s portfolio to seven parks across southern Scotland and North East England.
This latest acquisition continues the company’s growth strategy to create a strong regional group with significant scale. Verdant Leisure is keen to add further parks to its offering during 2017.
Located in the village of Coldingham, the leisure park offers sea views from the majority of its 300 pitches. Coldingham Bay Leisure Park will continue to offer holiday home ownership and touring facilities as well as the introduction of a small luxury hire fleet. The park also offers established woodland walks and the area is a magnet for water sports including diving, sea kayaking and canoeing at both Coldingham Bay and nearby St. Abbs.
In April 2016, Palatine Private Equity backed a secondary buyout of Verdant Leisure from RJD Partners and the firm then purchased Kingfisher and Heather View holiday parks in the Wear Valley. Verdant Leisure now operates 2,800 pitches of privately owned lodges, holiday homes, holiday lettings and touring facilities.
Ed Fazakerley, partner at Palatine Private Equity, says: “When we came on board in 2016 we saw significant buy and build potential in the Verdant Leisure business. This is the third park acquisition since we invested in the company and we plan to continue growing Verdant’s portfolio of leisure parks further.”
Graham Hodgson, CEO Verdant Leisure, says: “This acquisition is a perfect choice for the Verdant Leisure group in terms of the geographical location and the opportunity it offers for future development. It is a great park that has delivered an excellent customer experience over many years and is a seamless fit with our brand and values. We plan to invest significant funds in Coldingham Bay Leisure Park over the next 12 months, taking advantage of our financial strength and excellent trading performance through 2016.”
