A new bidder has emerged as a likely favourite to acquire holiday park operator Pontin’s, which fell into administration in September.
Boutique asset management company Bluebird Partners has reportedly expressed interest in the UK holiday parks operator. Manchester-based Britannia Hotels has previously been seen as the frontrunner to for the five Pontin’s parks looking to be sold by administrators KPMG.
Peter Bull, founder of the caravan parks operator Cinque Ports Leisure, has reportedly joined forces with Bluebird Partners to make an offer for Pontin’s. He made £42 million from selling Cinque Ports, which was subsequently renamed Park Holidays, to a private equity firm in 2006.
A partner at Bluebird, which claims to have experience in the caravan parks industry, was quoted as saying that it was looking at a number of opportunities “and Pontin’s is one”. Administrators KPMG is looking to realise at least £20 million for Pontin’s which has continued to trade through administration.
KPMG hopes to secure a sale of Pontin’s within the next couple of weeks.