Investment for holiday park operator

Tania Longmire
By Tania Longmire August 7, 2018 16:31

Kenwick Park Hotel in Lincolnshire has been bought by a holiday park operator as golfing ‘staycation’ holidays are becoming increasingly popular and profitable.

Coppergreen, which has seen £21 million of investment from BGF, the UK’s most active growth capital investor, plus more than £15 million from HSBC, has completed the purchase.

Since the Brexit vote in 2016 a number of golf clubs have been sold to leisure operators, including Sapey Golf Club in Worcestershire, which was bought last year by Wyldecrest Parks, a residential park and holiday home operator, while holiday firm Darwin Escapes also purchased The KP Club in Yorkshire.

Coppergreen already owned and operated Piperdam Golf & Leisure Resort in Scotland, meaning that now half of its entire portfolio is made up of golf clubs.

Lodges, like this one from Tingdene Homes, are becoming increasingly lucrative for the golf industry

The group, led by co-founders David and Donna Copley, specialises in quality yet affordable holiday lodge parks, tapping into the growing trend towards ‘staycations’, providing visitors with a higher-end alternative to caravan parks.

Since BGF’s initial funding in 2016, Coppergreen has been investing in the expansion of Piperdam, including new luxury lodges.

David Copley, 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 Piperdam has resulted in increased bookings over the past two years and we’re delighted by the positive response from both new and returning visitors.

“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.”

BGF’s Barry Jackson, who sits on the board of Coppergreen, said: “Led by David and Donna, Coppergreen’s expansion has progressed well since our initial investment and we’re delighted to support the acquisition of the two additional parks and further investment in the current portfolio, with this new investment. The team has developed a model and offering that really resonates with visitors, providing strong potential for further growth.”

Chris Alsop, HSBC relationship director, said: “I have worked with this dynamic management team for ten years and this marks a new and exciting chapter for them, HSBC and for the UK lodge holiday market which continues to grow in popularity. Coppergreen’s offering is of the highest standard and their success is well deserved.”

This article originally stated that Kenwick Park Golf Club had been sold. This is incorrect – it is the hotel which is in close proximity to the golf club which was actually sold

 

Tania Longmire
By Tania Longmire August 7, 2018 16:31
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