A SUNNY OUTLOOK FOR PARK LEISURE
The Times is reporting UK holiday parks operator Park Leisure has been sold for £182 million to an American real estate investment trust that has struck its second British deal in only four months.
Park Leisure, which had been owned by Midlothian Capital Partners and had counted Ares Management as an investor since 2017, was bought by Sun Communities. It is understood that the business received four offers from a mix of private equity and strategic buyers in a process run by advisers at Rothschild.
Park Leisure operates 11 sites across the UK, including Cornwall’s Oyster Bay and Par Sands, Malvern View in Herefordshire, Ribble Valley in Lancashire and Chantry in the Yorkshire Dales.
The sale attracted significant interest from both industry operators and financial buyers looking to tap into the sector’s rapid growth. The company’s net assets are valued at £50.8 million, according to its 2020 accounts at Companies House.
Recent months have seen a number of major deals in the domestic holiday sector, with Park Holidays recently being sold to Sun Communities in a £950 million deal.
