Thu, 02 Dec 2021 | BUSINESS SALE
Midlothian Capital Partners is reportedly exploring a potential £170 million sale of luxury holiday-home and park operator Park Leisure, as the huge rise in domestic holidaymaking during the COVID-19 pandemic continues to drive M&A activity.
Private equity firm Midlothian has reportedly engaged bankers from Rothschild to begin marketing the company for sale. Park Leisure operates 11 sites across the UK, including Cornwall’s Oyster Bay and Par Sands, Malvern View in Herefordshire, Ribble Valley in Lancashire and Chantry in the Yorkshire Dales.
The potential sale would be expected to attract significant interest from both industry operators and financial buyers looking to tap into the sector's rapid growth. If Midlothian were able to achieve the £170 million sale figure reported, this would represent around a 6.6x multiple of Park Leisure’s £25.6 million revenue for 2020.
Last year, the company reported operating profit of £13.3 million, while recording a post-tax loss of £2.9 million. The company’s net assets are valued at £50.8 million, according to its 2020 accounts at Companies House.
Recent months have seen a slew of major deals in the domestic holiday sector, with Park Holidays recently being sold to Sun Communities in a £950 million deal. Holiday park operator Parkdean Resorts is also set to be sold, while Bourne Leisure is reportedly seeking a buyer for Butlin’s.
Read more about the staycation M&A boom.
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