Private equity firm CVC Capital Partners has invested £250 million in UK holiday park operator Away Resorts to secure a majority stake in the business.
According to sources close to the transaction, the investment is close to four times the amount invested by buyout firm Freshstream in 2019.
Away Resorts founder and chief executive, Carl Castledine, said the negotiations had only taken “a couple of weeks in reality”.
The news comes a matter of weeks after the UK Government strengthened its restrictions on international travel by placing more countries on red or amber lists, which enforce quarantine for travellers on arrival back into the country. As a result, holiday park and cottage companies have seen a surge in demand for short-term breaks and staycations, piquing interest from private equity firms, as domestic travellers seek stress-free trips instead of venturing abroad.
Read more/Source: Short Term Rentalz
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