Trowers & Hamlins is delighted to have advised private equity fund manager Electra Partners on its acquisition of Southview and Manor Park holiday parks from Bluebird Partners and a European bank for a total transaction value of £49 million.
Electra Private Equity PLC ("Electra") has invested £20 million and Investec Growth & Acquisition Finance has provided an integrated debt facility.
Southview and Manor Park are large, established holiday parks. Southview is located in Skegness, Lincolnshire and Manor Park is in Hunstanton, Norfolk. Together the parks comprise more than 2,000 pitches, a nine-hole golf course, as well as the four-star Southview Park Hotel. The acquisition has been made in partnership with Electra's existing portfolio company, Park Resorts, which will continue to manage both parks, having done so since 2010.
This transaction cements Parks Resorts' position as the largest operator of holiday parks in the UK. Trowers & Hamlins partner Tim Nye and senior associate Alison Chivers, both in the firm's Corporate department, advised on all legal aspects of the acquisition. The firm's London Private Equity team has advised on a number of high profile buyouts in the last 12 months, particularly in the hotel and leisure sector. Its clients include equity sponsors, entrepreneurs and management teams, and the team advises on matters ranging from initial venture capital investments to large-scale, private equity leveraged buyouts in the £500m plus category.