£50m treehouse swoop

PRIVATe equity firm Phoenix has paid more than £50m for a controlling stake in Forest Holidays as it looks to cash in on the rising trend in ‘staycations’.

The deal will see Phoenix join existing shareholders the Forestry Commission and LDC on the investor register, and the tie-up will result in an expansion drive. Forest Holidays operates 571 ‘ eco- cabins’ and treehouses on nine sites across Britain’s National Forests, with a further two in development in Snowdonia and the Brecon Beacons. Following the investment from Phoenix, the group plans to open at least five sites by 2022. With Brits getting less value for their pound abroad, more are having holidaying at home.