Largo Leisure acquired by Limerston Capital
Holiday park operator Largo Leisure has been acquired by private equity firm Limerston Capital for an undisclosed sum.
Largo Leisure offers self-catering lodge, caravan and glamping holidays across four parks located in Letham Feus in Fife, Braidhaugh Park in Perthshire, Sauchope Links near Crail and Loch Tay in Perthshire. The business was founded in 2003 by Rupert Barret and is targeted at a premium market.
Andrew Howe, the founder and ex-CEO of Bridge Leisure which he exited last year, has been installed as executive chairman.
Mr Howe will work with the business’s current senior team, including managing director Jonathan Morley, and Limerston Capital to identify growth opportunities. This will include investment into the parks’ properties, potential expansion of the sites and brand development.
Limerston Capital has signalled its intentions for further acquisitions, with a specific focus on individual or groups of smaller holiday parks across the UK.
Mr Howe said: “Largo Leisure has positioned its holiday parks as destination experiences, continually improving its sites to ensure a high end offer and attracting a premium demographic. Our ongoing focus on improving smaller parks will help to set us apart from competitors and is aligned with our wider plans.
“With first-hand knowledge of the sector, I am excited to oversee the strategy of Largo Leisure. We have ambitious and enthusiastic plans and crucial to this is retaining the character of the parks and exploring how we can better meet the needs of customers.”
João Rosa, founding partner at Limerston Capital, added: “The UK domestic holiday market has continued to expand for several reasons, and we expect this to continue as the cost of foreign travel rises and consumers look for options closer to home.
“The key for holiday park owners to build brand loyalty and secure growth, is to find a point of differentiation and to consistently deliver. Largo Leisure is an excellent example of this and we are confident that with our support, Andrew and the team are best placed to drive it forward.”
Limerston Capital was advised by Addleshaw Goddard, KPMG and CIL.