Holidays firm sale advised in city.
Mark Gibson, a lawyer in DWF's Birmingham office, advised East Sussex-based Park Holidays, the fourth largest operator of caravan holiday parks in the UK.
The transaction values the business at PS172 million, which has been funded by PS88 million of equity from Caledonia and PS90 million of bank debt. RBS, HSBC, Lloyds Bank, Barclays Bank and Santander have provided the acquisition debt facilities. In addition, a PS10 million acquisition and capital expenditure facility has been arranged to assist the future expansion of the business. Mr Gibson said: "The new capital structure from Caledonia Investments will enable Park Holidays to develop its existing parks throughout the South of England and build the business through targeted acquisitions."
Park Holidays has been run by its current management team since January 2006, when the business was acquired from its founders through a management buy-in backed by London-based Graphite Capital.
Park Holidays UK, which organises breaks in Devon among other places, has been taken over
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|Publication:||The Birmingham Post (England)|
|Date:||Nov 14, 2013|
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