Verdant Leisure has acquired ts ninth leisure park. Queensberry Bay Holiday Park & Spa, on the Dumfries and Galloway coastline in south west Scotland is the fifth holiday park purchase in the last 28 months for the bespoke leisure park operator.
The purchase brings Verdant Leisure’s portfolio to nine parks across southern Scotland and north east England and marks the fifth bolt-on since the company was backed by Palatine Private Equity in April 2016. This deal will continue the company’s growth strategy to create a strong regional group with significant scale, and Verdant Leisure remains keen to add further parks to its group during 2019.
Situated on the south west Scottish coast, near Annan in Dumfries and Galloway, Queensberry Bay is a 37-acre retreat offering the full holiday package. On park facilities include a spa with sauna, pool spa and hot tub. Queensberry Bay is close to a number of quaint coastal towns, historical attractions and a beautiful beach, making it popular with holidaymakers and holiday home owners throughout the year.
Graham Hodgson, CEO of Verdant Leisure, says: “This acquisition is a perfect choice for the Verdant Leisure group in terms of the geographical location. It allows us to expand our portfolio from the Borders and Ayrshire to the west of southern Scotland. Queensberry Bay will bring a further 315 holiday home pitches and 40 touring pitches to the wider group. We have further investment in the park planned and this will roll out over the next few years.”
Ed Fazakerley, Partner at Palatine Private Equity, says: “Verdant Leisure has made great progress since our initial investment back in 2016. The management team has continued to deliver strategic acquisitions that will boost revenue and expand the business. We’re confident that Verdant will maintain this momentum and continue to grow its portfolio of leisure parks over the next few years.”
Verdant Leisure was founded in September 2010 following a management buy-in of Dunham Leisure Limited, owners of Pease Bay and Thurston Manor leisure parks in South East Scotland. Verdant went on to purchase Viewfield Manor Leisure Park in Ayrshire in July 2011 and Riverside Leisure Park in Northumberland in 2012. Kingfisher and Heather View holiday parks in Wear Valley, and Coldingham Bay and Scoutscroft Leisure Parks in Berwickshire were acquired as part of an ongoing buy-and-build strategy. Verdant Leisure now operates over 3,000 pitches of privately owned lodges, holiday homes, holiday lettings and touring facilities.
Verdant Leisure was advised by KPMG (financial due diligence) and Gateley PLC (legal advice).