Bridge Leisure Parks, which is backed by Phoenix Equity Partners, has acquired three holiday parks in the UK for a total investment of £11 million.
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.
The three new parks are Ashbourne Heights in Derbyshire, Hedley Wood in Devon and Hengar Manor in Cornwall.
Phoenix Equity Partners acquired the company in 2015 alongside the existing management team. Bridge Leisure now owns and operates eight holiday parks across the UK and in 2016 reported a 29% increase in turnover to £21.4 million compared to the previous year.
It is continuing to experience strong growth in 2017, with sales of holidays and caravan holiday homes up by 15% so far in 2017.
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, added: “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trend has accelerated because people have changed the way they take holidays – for many a fortnight in the sun has been replaced by several shorter breaks through the year.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. Our plan is to maintain growth through further developments to our existing parks and by undertaking further acquisitions.”