BGF successfully exits Coppergreen Leisure Resorts
BGF has announced a successful exit of Sheffield-headquartered Coppergreen Leisure Resorts.
The luxury, family-run holiday park business has been acquired by Away Resorts, which is backed by CVC Capital Partners Fund VIII, and will incorporate Coppergreen into their plans to form the UK’s leading staycation provider.
Now with four parks across Yorkshire, Scotland, Lincolnshire and Nottinghamshire, BGF’s funding has allowed the business to make three acquisitions, build additional lodges and on-site facilities across all four parks and develop a pipeline of two greenfield sites, which are currently in the planning process.
BGF backed Coppergreen Leisure Resorts in November 2016 and has invested a total of £21 million to support a team, led by Donna (CFO) and David Copley (CEO), in their growth ambitions. The funding allowed the husband-and-wife team to expand from a single 54-lodge site to a four-park group with approximately 370 lodges in five years. As well as the two pipeline greenfield sites, further expansion is anticipated at the existing parks, with 211 plots for which planning is already secured.
The growth capital has been put to work developing each park to a high specification, which offer high-quality lodge accommodation for short and long breaks. Enjoyed primarily by families, the sites – which include Piperdam Leisure Resort, Kenwick Park Estate, Woodland Lakes Lodges and Clumber Park Lodges – have outdoor hot tubs, luxury indoor saunas and pet-friendly accommodation in relaxing waterside locations. The resorts provide activities such as soft play, golf, fine dining and fitness, as well as function and wedding facilities.
David Copley, CEO at Coppergreen Leisure Resorts said: “BGF have been fantastic partners – in their initial and follow-on investments, as well as their unwavering support of our vision for Coppergreen. We had an ambition to expand considerably, while maintaining the exacting, high standards our customers choose us for.
“Over the past two years, we’ve had to adapt our plans and have benefitted hugely from a supportive, minority investor with a long-term outlook. From closures to managing a staycation boom, we’ve focused our efforts on looking after our people and investing in systems that will best position the business for the long-term. Today’s announcement is a huge achievement for everybody who has been involved in the business and we look forward to seeing what the team goes on to achieve in its successful next chapter.”
The husband-and-wife team of CFO and CEO Donna and David Copley respectively will exit the business after a transitional period as part of the transaction and Steve Brown will also complete his tenure as non-executive chair.
Barry Jackson, head of BGF in Yorkshire and the North East added: “It’s been a privilege to work with Donna, David and the rest of the team over the past five years and witness the determination, effort and vision it has taken to achieve what the group is today. This deal is a huge success for all shareholders and a fantastic example of what can be accomplished by an ambitious management team with the right plan and a supportive investor. It hasn’t been a straightforward trading period for the travel and leisure industry, but the business has emerged stronger than ever because of its resilience and entrepreneurial culture.”
Carl Castledine, CEO of Away Resorts, commented: “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.”
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