Verdant Leisure continues investment drive with the acquisition of tenth leisure park
Verdant Leisure has today, 24 January 2020, announced the acquisition of its tenth leisure park. Erigmore Estate in Perthshire is the second holiday park purchase in the last 18 months for the bespoke leisure park operator.
The purchase brings Verdant Leisure’s portfolio to ten parks across Scotland and North East England, and marks the sixth bolt-on since the company was backed by Palatine Private Equity in April 2016. This deal will continue the company’s growth strategy to create a strong regional group with significant scale, and Verdant Leisure remains keen to add further parks to its group during 2020.
Erigmore is situated in the picturesque village of Birnam and the nearby small town of Dunkeld, just minutes off the A9 north of Perth, and within easy reach of both Glasgow and Edinburgh. Erigmore offers a stunning countryside location which is perfect for those who are seeking a tranquil and relaxing break away from the hustle and bustle of everyday life, making Erigmore the perfect choice for holiday home owners and holiday makers.
James Painter, Investment Director at Palatine Private Equity, said: “Buy and build is a key part of Verdant’s growth strategy with Erigmore representing the sixth acquisition since our initial investment. We continue to see strong demand from British holidaymakers’ for UK ‘staycations’ and are delighted to support the management team in expanding the portfolio of Verdant Leisure holiday parks.”
Verdant Leisure was founded in September 2010 following a management buy-in of Dunham Leisure Limited, owners of Pease Bay and Thurston Manor Leisure Parks in South East Scotland. Verdant went on to purchase Viewfield Manor Leisure Park in Ayrshire in July 2011 and Riverside Leisure Park in Northumberland in 2012. Kingfisher and Heather View Leisure parks in Wear Valley, and Coldingham Bay were acquired as part of an ongoing buy-and-build strategy implemented by Palatine. Scoutscroft Leisure Park was purchased in February 2018 followed by Queensberry Bay in Dumfriesshire in October 2018. Verdant Leisure now operates over 3000 pitches of privately owned lodges, holiday homes, holiday lettings and touring facilities.