Partner Article

Canadian fund manager acquires UK caravan giant Parkdean for £1.35bn

Newcastle-headquartered Parkdean Resorts, a leading UK operator of caravan holiday parks, has been sold for £1.35bn.

Sold from one private equity fund manager to another, ownership of Parkdean passes from Epiris to Canadian firm Onex Corporation with the deal expected to close in the first quarter of 2017.

Parkdean Resorts owns and operates 73 holiday parks across England, Scotland and Wales, selling more than 500,000 holidays and short breaks a year.

The company offers a wide range of accommodation, from caravans and camping pitches to chalets, apartments and lodges. Parkdean Resorts employs over 6,000 staff during the peak holiday season and is headquartered in Hemel Hempstead and Newcastle, UK.

Alex Fortescue, Manging Partner at Epiris, said: “We are proud of our investment in Parkdean Resorts and in many ways it represents what differentiates Epiris from the crowd.

“Through a series of bank-related acquisitions and 11 individual transactions we have transformed our original Park Resorts debt position into joint control of a very high-quality, market-leading business with profits of more than £100 million.

“John and the team have done a tremendous job in developing the business and we are delighted to see Onex picking up the mantle for the next stage of growth.”

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