Founded 10 years ago by leisure entrepreneur Carl Castledine, Away Resorts operates six leading resorts in prime UK destinations, including Tattershall Lakes in Lincolnshire and Whitecliff Bay on the Isle of Wight, hosting almost 200,000 holiday-makers each year.
Video: Watch Carl Castledine and LDC's Richard Whitwell discuss how our partnership has evolved over the last four years.
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 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 was implemented at Tattershall Lakes.
In January 2017 Away Resorts completed the acquisition of Sandy Balls Holiday Village in the New Forest, which subsequently formed a group with six sites valued in excess of £100million. The deal was supported by additional capital from LDC.
In May 2019 LDC reached an agreement to sell Away Resorts, to Bregal Freshstream. Over the past four years, the business has invested more than £45million in existing sites, adding state-of-the-art entertainment complexes, new pitches and facilities. Revenue has increased to £63million in 2018 and employee numbers have grown from 450 to 950.
LDC will retain a minority shareholding as part of the deal.
LDC has been the perfect partner for us over the past four years, providing not only the capital to expand but also the operational and strategic support to help us scale the business. They understood our vision from the start and backed the team to deliver it. We're delighted they're continuing to support our growth plans.Carl Castledine, CEO, Away Resorts