A Yorkshire-based holiday park operator has secured two major acquisitions as it continues to grow around the UK.
Coppergreen has acquired Clumber Park in Nottinghamshire and Kenwick Park Golf Hotel and Spa and Lodge Park in Lincolnshire, doubling the size of its portfolio.
BGF, the growth capital investor, has invested a further £10m of growth capital while HSBC has provided £15.3m towards these purchases and general group capital expenditure.
The new funding takes BGF’s total investment in Coppergreen to £21m.
Apart from the two new acquisitions, Coppergreen owns and operates Woodland Lakes in North Yorkshire and Piperdam Golf & Leisure Resort in Scotland, which has been awarded the Hoseasons National Relax and Explore 2016 Diamond Award for Best Lodge Park.
The group, which is led by co-founders David and Donna Copley, specialises in holiday lodge parks, as it taps into the growing trend towards ‘staycations’.
The Sheffield-based group aims to provide visitors with an alternative to caravan parks.
Since BGF’s initial funding in 2016, Coppergreen has been investing in the expansion of Woodland Lakes and Piperdam, with the opening of 45 new luxury lodges.
A spokesman said: “Further accommodation is currently being added at both parks in addition to on-site facilities at Woodland Lakes, including a pool, gym, shop, café and new reception together with activities such as archery, zorbing and bike hire. “
Kenwick Park, which is in the Lincolnshire Wolds, currently has 90 lodges and a 34-room hotel and spa.
The Clumber Park site, which is next to a National Trust country park in the Dukeries near Worksop, has planning permission for 129 lodges and a shop, gym, swimming pool, restaurant and reception.
Development of this new holiday park is due to start immediately. The scheme is expected to create 120 jobs.
Coppergreen’s growth strategy is being supported by non-executive chairman Steve Brown, commercial director Sam Wall and director Richard Sidi.
David Copley, the CEO 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.
“The development of both Woodland Lakes and Piperdam have resulted in increased bookings over the past two years and we’re delighted by the positive response from both new and returning visitors.”
Mr Copley added: “BGF’s first investment was instrumental in the first phase of our expansion, and the new investment now enables us to continue our growth plans at pace, with the continued support of the BGF team.”
Coppergreen and BGF were advised by Castle Square (Kevan Shaw and Steve Bell), Shoosmiths (James Foster and Natalie Hager), Dow Schofield Watts (Rob McCarthy) and Addleshaws (James Tatro). HSBC were advised by Keebles LLP.