A leisure brand with an array of holiday parks in the South West has been acquired for an undisclosed sum.
Lakeshore Leisure Group (LLG) and the three Devon campsites it manages were purchased by Kings Park Capital (KPC) to a brand new UK affiliate of European campsite operator Capfun.
The properties that KPC purchased as part of the deal are Clawford Lakes near Holsworthy, Lakeview Manor near Dunkeswell, and Otter Falls near Honiton, according to a news article from BusinessLive UK.
LLG was established in 2019 when the management of the company collaborated with KPC to invest in sites, and the company also committed this year to purchase an additional greenfield property on the North Devon coast, Clovelly Falls.
KPC stated that despite disruptions to trade caused by the pandemic Covid-19 in 2021 and 2020, It has completed “significant subsequent investments in its parks, such as the addition of more camping pitches for holiday lodges and the construction of a “transformational” greenfield development of 78 acres in Clawford Lakes.
KPC announced that the exit resulted in an investment multiple of three times and an average internal 46% return for its investors.
LLG CEO Stephen Twiss said in a short time, they have, as a group, been successful in establishing an innovative and highly coveted name in the UK travel market that offers a unique experience to guests.
He explained that their capacity to do this was made possible by the KPC staff, who embraced the idea and supported him and his team in achieving it.
KPC Partner Artjom Dashko added that LLG’s performance indicates the excellence of its management and its distinctive holiday offering.
He added that with its established organic growth prospects and the potential to transform existing sites and greenfield ones, The business is an excellent opportunity to become a domestic industry leader in the holiday market.
They are also pleased to have played an integral part in the launching of the company along with Stephen Twiss.
They were also advised of their options by KPMG Corporate Finance and Burness Paull, while management was assisted on the matter by Wyvern Partners.