Phoenix Equity Partners buys up Bridge Leisure

 
Josh Martin
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Silver Sands Holiday Park, near Lossiemouth in Scotland, is now under Phoenix Equity control
Mid-sized private equity firm Phoenix Equity Partners has purchased the holiday leisure park company Bridge Leisure, alongside the current management team led by chief executive Andrew Howe, Phoenix announced yesterday.

As part of the sale, Bridge Leisure is simultaneously acquiring Silver Sands Holiday Park which is located near Lossiemouth in Scotland.

Phoenix will provide funds for Bridge Leisure to further develop its existing parks and supply cash for new acquisitions.

Phoenix has experience of partnering with management teams to grow businesses. It also has experience of the holiday park sector, having invested previously in Weststar Holidays.

Silver Sands will be the fourth park owned and operated by Bridge Leisure, following purchases between 2010 of Trevella, Sand Le Mere and Turnberry in 2012.

Phoenix, meanwhile, is owned by its executive team and has an investment focus on mid-market UK businesses valued up to £200m.

Recent investments include Riviera Travel, Just Childcare and Key Retirement Group.

David Burns, managing partner at Phoenix, said:

“[Bridge Leisure] is a well-run business with a strong management team, in what is an attractive and highly fragmented sector. We are confident that we will work well together with Andrew and his team to grow the business. The Silver Sands acquisition is a first step towards meeting that objective.”

Howe, chief executive of Bridge Leisure, said:

“As we look to further expand the business both organically and through acquisitions. We’ll benefit strongly from their experience of helping companies grow.”

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