Lakeshore Leisure Group acquired by Capfun UK
United Kingdom: British leisure brand Lakeshore Leisure Group has been sold by London-based private equity firm Kings Park Capital to a new British subsidiary of Capfuna pan-European operator of campsites and holiday parks headquartered in France.
Lakeshore Leisure Group was founded three years ago when CEO Stephen Twiss partnered with Kings Park Capital to acquire ‘underinvested and undermanaged’ holiday parks across the UK and drive improvement performance through targeted capital investment, product innovation and the application of operational excellence. .
The Otter Falls and Clawford Lakes sites in Devon were purchased at the same time, followed by Lakeview Manor in early 2020 and Clovelly Falls earlier this year. [all located in the same county].
Despite the Covid-19 pandemic, Kings Park Capital has continued to invest heavily in the development of further holiday lodge locations across the parks in its portfolio and in the refurbishment of the hotel and central facilities at Lakeview Manor, which helped the company increase its revenue. at a CAGR of 51% and its EBITDA at a CAGR of 77%.
Kings Park Capital previously invested in the national holiday park industry when it formed Bridge Leisure Parks in 2010, before selling the business to Phoenix Equity Partners in 2015. Bridge Leisure Parks has since rebranded itself as Bridge Leisure and was sold to Park Holidays UK in April 2021while Park Holidays UK was then redeemed by a US-based real estate investment trust [REIT] Sun Communities for £950m in April this year.
Stephen Twiss, CEO of Lakeshore Leisure Group, said: “In a relatively short period of time, we as a team have been able to establish an innovative and enviable brand in the UK holiday market which truly offers a unique experience to the customer ; our ability to achieve this was facilitated in many ways by the team at Kings Park Capital, who wholeheartedly supported the vision and backed me and the team to deliver it.
Artjom Dashko, Partner at KPC, said: “LLG’s performance is a testament to the quality of its management and its differentiated vacation offering. With proven organic growth opportunities and the ability to transform existing and new sites, the company
represents an excellent platform to develop a leading player in the national holiday market, and we are proud to have played a role in launching the business alongside Stephen Twiss.
The new custodian, Capfun, is a French family business that owns more than 175 parks and resorts in five countries, including France, the UK, Belgium, Spain and the Netherlands.
For the sale, the shareholders of Kings Park Capital were advised by KPMG Corporate Finance and Burness Paull, and the management team was advised by Wyvern Partners.