Verdant inks deal to acquire eighth holiday park location

Group takes over Scoutscroft Holiday Centre in Borders Remains keen to add further parks during the year

Holiday park operator Verdant Leisure has taken its portfolio to eight sites with the acquisition of Scoutscroft Holiday Centre in the Scottish Borders.

Scoutscroft lies just one mile from Coldingham Bay Leisure Park, which Verdant purchased in early 2017.

The value of the group’s latest acquisition has not been disclosed. It brings Verdant’s portfolio to eight parks across southern Scotland and northeast England and marks the fourth bolt-on since the company was backed by Palatine Private Equity in April 2016.

The firm said it would continue to build “a strong regional group with significant scale”, and hinted at further deals during 2018.

Chief executive Graham Hodgson said: “This acquisition is a perfect choice for the Verdant Leisure group in terms of the geographical location right in the heart of our existing business interests.

“It is an area we know well and Scoutscroft will bring a further 180 pitches to the wider group. We have further investment in the park planned and this will roll out over the next 24 months. We will also look to extend the opening period of the park to 11 months from the existing nine-and-a-half enabling our customers to enjoy more time at their holiday homes.”

Ed Fazakerley, partner at Palatine Private Equity, added: “We have been impressed by the hard work and commitmentofthemanagementteam over the last 18 months. This is the fourth park acquired by Verdant since we invested in 2016 and we plan to continue growing Verdant’s portfolio of leisure parks further.”

Verdant Leisure was founded in September 2010 following a management buy-in of Dunham Leisure, the owner of Pease Bay and Thurston Manor leisure parks in south-east Scotland.

The group 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 holiday parks in Wear Valley and Coldingham Bay were acquired as part of an ongoing buy-and-build strategy implemented by Palatine. Verdant now operates some 3,000 pitches of privately owned lodges, holiday homes, holiday lettings and touring facilities.

Palatine Private Equity’s current portfolio also includes Moneyplus Group, Gusto Restaurants, Character World, John Charcol and The Alchemist Bar and Restaurant.

sreid@scotsman.com