Bridge Leisure Parks has continued its rapid growth on the back of the UK’s buoyant staycation market by acquiring three new holiday parks for a total investment of £11million.
The three new parks are Ashbourne Heights on the edge of the Peak District in Derbyshire; Hedley Wood near Bude on the Devon and Cornwall border, and Hengar Manor in Bodmin on the North Cornwall coast.
The group, which is backed by Phoenix Equity Partners, now owns and operates eight holiday parks across the UK. Bridge Leisure reported turnover of £21.4m in 2016, up 29% on PY and is continuing to experience strong growth in 2017, with sales of holidays and caravan holiday homes up by 15% so far in 2017 supported by continued investment in the group’s parks.
Sandy Muirhead, Partner at Phoenix and a Director of Bridge Leisure, said: “These latest acquisitions are important steps in Bridge Leisure’s growth. The team has shown with past deals that they can add significant value to new parks by building pitches, investing in infrastructure and improving facilities to enhance the customer experience and create new jobs.”
Andrew Howe, CEO of Bridge Leisure said: “The staycation trend has accelerated because people have changed the way they take holidays – for many a fortnight in the sun has been replaced by several shorter breaks through the year. This trend, combined with the political and economic uncertainty, means the outlook for our market is strong.
“We believe that those holiday companies offering the highest standards for customers will prosper. Each of our three new parks is superbly well run and among the very best in their local area, so we are incredibly excited about being able to support their ongoing success.
“Our plan is to maintain growth through further developments to our existing parks and by undertaking further acquisitions.”
Headquartered in Milton Keynes, Bridge Leisure was founded in 2008 as a holiday park consultancy and management business focused on running holiday parks for third parties. The company then moved into operating its own parks with the acquisition of sites in Cornwall, Yorkshire and Scotland.
Bridge Leisure is also supported by debt facilities provided by Ares Management.