In April 2015 LDC supported the secondary buyout of Away Resorts from CBPE Capital.
LDC invested £18.5million to support the team in delivering their organic growth plan, capitalising on the buoyant market for ‘staycations’ in the UK and provide capital to support further high quality acquisitions to complement the current Away Resorts portfolio.
The business will significantly invest in its parks, creating additional capacity by developing existing planning permissions and upgrading accommodation, as well as continuing to improve its central facilities, such as swimming pools, gyms, spas, bars and restaurants and water sports.
In 2016 Away Resorts completed the acquisition of Cosways Holiday Park, as part of its support for the business’ strategy to identify high quality acquisitions to complement its portfolio and grow its share of the UK market. The same year a three-year, £12million improvement plan is now being implemented at Tattershall Lakes.
In January 2017 Away Resorts completed the acquisition of Sandy Balls Holiday Village in the New Forest, which subsequently forms a group with six sites valued in excess of £100million. The deal was supported by additional capital from LDC. With the addition of Sandy Balls, the business now has an annual turnover of over £40million, up more than 20% since LDC first backed the business, and employs 650 staff across its portfolio of sites.
Thanks to our partnership with LDC, we have been able to steadily build our portfolio of parks over the past few years, as well as improving, renovating and re-energising existing parks, where needed. We still have plans to invest in the right opportunities, and are always on the lookout for new parks to acquire and to bring into the Away Resorts family.Carl Castledine, CEO, Away Resorts