5th September 2018
Holiday park operator Coppergreen has acquired two sites in the East Midlands after securing £25m from BGF and HSBC to support the acquisitions.
Dow Schofield Watts Transaction Services advised on the deal. The acquisition of Clumber Park in Nottinghamshire and Kenwick Park Golf Hotel and Spa and Lodge Park in Lincolnshire has doubled the size of Coppergreen’s portfolio.
BGF, the growth capital investor, has invested a further £10m of growth capital, taking its total investment in Coppergreen to £21m, while HSBC has provided £15.3m towards the purchases and general group capital expenditure.
Kenwick Park, which is located in the Lincolnshire Wolds, currently has 90 lodges and a 34-room hotel and spa.
The Clumber Park site near Worksop has planning permission for 129 lodges and a shop, gym, swimming pool, restaurant and reception. Development will commence immediately and will create 120 new jobs.
In addition to the two new acquisitions, Coppergreen owns and operates Woodland Lakes in North Yorkshire and Piperdam Golf & Leisure Resort in Scotland.
Chief executive David Copley said: “The acquisition of Kenwick Park and Clumber Park are fantastic additions to the group and fit perfectly with our mission to provide visitors with quality accommodation in some of the most beautiful settings in the UK.”
Rob McCarthy of Dow Schofield Watts Transaction Services provided financial due diligence for Coppergreen, BGF and HSBC on the acquisitions.