Private equity firm Electra Partners yesterday took a controlling stake in UK caravan park operator Park Resorts after refinancing the company’s debts. The British firm, which has an investment trust listed on the London stock exchange, will now own 54 per cent of the holiday business, which is based in Hemel Hempstead. The rest will be held by minority investor GI Partners and management. Park Resorts operates 39 caravan resorts across the country. After the refinancing, the company will have a senior debt pile of £316m. Electra took on £45.5m of debt in the company in January 2012 from Lloyds Banking Group at a big discount before building up its debt stake to about £70m. It has converted the debt into a majority equity shareholding.