Verdant Leisure completes refinancing to drive buy and build strategy

Verdant Leisure operates nine holiday parks based in Southern Scotland and North East England with 3,000 pitches, comprising of privately owned lodges and holiday homes, holiday lettings and touring facilities.

Since Palatine led a secondary buy-out in April 2016, the company has acquired five holiday parks and has significantly increased its hire fleet to take advantage of the growing UK staycation market.

The business completed a co-terminus ground rent and refinancing with Aberdeen Standard Investments and LGT Private Debt. The refinancing sees the repayment of existing banking facilities with Yorkshire Bank and Tosca Debt Capital and has allowed Palatine to return significant sums to their investors. Furthermore, it provides additional facilities to fund future acquisitions enabling the business to continue with its buy and build strategy.

The Palatine team was led by Ed Fazakerley and James Painter. Palatine and Verdant Leisure were advised by Clearwater, CBRE, Gateley, Burness Paull, KPMG and Colliers.

Palatine Partner, Ed Fazakerley said, “Verdant Leisure has made great progress since our investment in 2016, growing both organically and through acquisition. The refinancing has enabled Palatine to return funds to our investors and has provided significant facilities to enable the business to continue with its consolidation of the holiday park market.”