Away Resorts, the UK holiday park owner and operator, was established in 2008 by an experienced management team with funding from CBPE Capital. The company acquired its first park, Whitecliff Bay on the Isle of Wight, later the same year. The company has since increased its offering to four parks comprising Tattershall Lakes in Lincolnshire, Mill Rythe in Hampshire and Barmouth Bay in Snowdonia National Park.
Away Resorts employs over 250 staff and achieved a turnover of over €30m in 2014, delivering high-quality, value for money holidays and offering a wide range of accommodation. The business has developed an enviable brand, with parks famed for the quality of entertainment and leisure facilities.
LDC has entered into an agreement to support the secondary buy out of the business – providing a successful exit for CBPE Capital and a new partner for Management to support the business in the delivery of its growth strategy. The UK holiday park market continues to be highly fragmented with opportunity for further market consolidation. The transaction is subject to regulatory approval.
Clearwater International partners Gareth Iley and Chris Smith advised the vendors. Debt Advisory partner Mark Taylor and associate director Tom Barnwell advised on debt financing for the transaction.