Bridge Leisure agrees £36 million buyout

Holiday park operator Bridge Leisure is being acquired by Phoenix Equity Partners alongside the current management team led by chief executive Andrew Howe.

Bridge Leisure is simultaneously acquiring Silver Sands holiday park near Lossiemouth in Scotland as part of deal worth an estimated £36 million, according to the Times.

The company was formed by a small team of holiday park experts in 2008 to provide professional management support and consultancy for the caravan holiday park industry.

Bridge Leisure currently owns three holiday parks in Cornwall, Yorkshire and Ayrshire, and works with others across the UK, claiming sales growth of 95% over three years.

The Milton Keynes-based business was ranked 26th in the league table of 100 private companies with the fastest-growing sales over three years in December in the Sunday Times Virgin Fast Track 100.

Phoenix will support the growth of Bridge Leisure through further developing its existing parks and providing capital for new acquisitions.

The private equity firm has experience of the holiday park sector, having previously invested in Weststar Holidays.

Phoenix completed the primary buyout of Riviera Travel in December.

Managing partner David Burns said: “We are delighted to be investing in Bridge Leisure. It is a well-run business with a strong management team, in what is an attractive and highly fragmented sector.

“We are confident that we will work well together with Andrew and his team to grow the business. The Silver Sands acquisition is a first step towards meeting that objective.”

Howe said: “We are very pleased that Phoenix will be supporting Bridge Leisure going forward, as we look to further expand the business both organically and through further acquisitions.

“We will benefit strongly from their extensive experience of helping companies to grow.”

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