Away Resorts acquires Coppergreen Leisure Resorts

UK: UK holiday park operator Away Resorts is continuing to grow its domestic portfolio after announcing the acquisition of Sheffield-based Coppergreen Leisure Resorts.

It follows Away’s purchase of Aria Resorts from investment firm Angelo Gordon in August, with the two companies agreeing to a merger that would create a new “£600 million staycation powerhouse” driven by the domestic tourism boom. Away also bought Cornish holiday park St Ives Bay Holiday Park, backed by private equity firms Freshstream and LDC, in March.

The latest acquisition increases Away’s footprint to 27 locations across the UK, and boosts its presence in the North of England and Scotland.

Coppergreen operates 370 lodges across four parks in Yorkshire, Scotland, Lincolnshire and Nottinghamshire. Growth capital investor BGF has exited as part of the deal, having backed the group five years ago.

The company was forced to close its four sites during the first Covid-19 lockdown last year until it was bailed out with a £2.5 million funding package that allowed it to survive, covering running costs and retaining staff. 360 of its 400 employees were furloughed under the government scheme, according to a report in The Sheffield Star.

Away Resorts was acquired by private equity firm CVC Capital Partners earlier this year, and the group is seeking to continue growing its portfolio and investment to further develop its offering.

Away Resorts CEO Carl Castledine said: “We are delighted to be welcoming Coppergreen to the Away Resorts family to support our ambition of forming the leading UK holiday park provider. Coppergreen’s prime locations and leadership in sustainability will further enhance our offer as we look to provide perfect holiday destinations for UK holiday makers.”

Coppergreen Leisure Resorts CEO David Copley said: “Away Resorts has a reputation for driving innovation across the industry and is the ideal owner for the business. We look forward to seeing what the team goes on to achieve in its next successful chapter.”