Yorkshire’s Keebles has acted in a £25 million investment for UK holiday park operator Coppergreen as the business continues to pursue its growth strategy.
Coppergreen has doubled the size of its portfolio with the acquisition Kenwick Park Golf Hotel and Spa and Lodge Park in Lincolnshire and Clumber Park in Nottinghamshire.
The British Growth Fund (BGF) has invested a further £10 million of growth capital while HSBC has provided £15.3 million towards these purchases and general group capital expenditure.
Coppergreen Chief Executive David Copley said: “The acquisition of Kenwick Park and Clumber Park are fantastic additions to the group and fit perfectly with our mission to provide visitors with quality accommodation in some of the most beautiful settings in the UK.”
BGF’s Barry Jackson, who sits on the board of Coppergreen, said: “Led by David and Donna, Coppergreen’s expansion has progressed well since our initial investment and we’re delighted to support the acquisition of the two additional parks and further investment in the current portfolio, with this new investment.
“The team has developed a model and offering that really resonates with visitors, providing strong potential for further growth.”
Creating 120 new jobs, the Clumber Park development – located next to a National Trust country park – has been granted planning permission for 129 lodges and facilities will include a shop, gym, swimming pool, restaurant and reception.
Kenwick Park, situated in the heart of the Lincolnshire Wolds, has 90 self-catering lodges and a 34-room hotel and spa.
Chris Alsop, HSBC Relationship Director, added: “I have worked with Coppergreen’s dynamic management team for ten years and this marks a new and exciting chapter for them, HSBC and for the UK lodge holiday market which continues to grow in popularity.
“Coppergreen’s offering is of the highest standard and their success is well deserved. Keebles’ expertise ensured the deal progressed smoothly and on time.”
Paul Trudgill, managing partner of Keebles and James Burdekin, an associate in the firm’s corporate and commercial team advised HSBC on the £15.3 million loan facility and on the transactions it funded.
He said: “The funding and acquisitions further boost the growth and achievements of Coppergreen which owns and operates Woodland Lakes in North Yorkshire and Piperdam Golf & Leisure Resort in Scotland. We wish David and the management team continued success.”
Coppergreen and BGF were advised by Castle Square, Shoosmiths, Dow Schofiled Watts and Addleshaw Goddard.