A Travers Smith team led by head of private equity, Paul Dolman has advised the selling shareholders of UK holiday park operator, Bridge Leisure, on the sale of its business to UK mid-market private equity firm Phoenix Equity Partners ("Phoenix").
One of the selling shareholders advised by the Travers Smith team was Kings Park Capital ("KPC"), an independent lower mid-market private equity investment firm that invests exclusively in companies that operate within and provide services to the leisure sector with enterprise values up to £50 million.
Headquartered in Milton Keynes, Bridge Leisure was founded in 2008 as a holiday park consultancy and management business initially focused on operating leisure parks for third parties. In 2010, Travers Smith advised KPC on its initial investment into the business, which enabled the Bridge Leisure team to expand into the operation of owned parks with the acquisitions of Trevella and Sand Le Mere. Bridge Leisure acquired the group's third park, Turnberry, at the end of 2012. Silver Sands Holiday Park, which is located near Lossiemouth in Scotland, will be the fourth park owned and operated by Bridge Leisure.
Management were advised by Burness Paull LLP and Eversheds LLP advised the Newco (funded by funds managed by Phoenix).
A separate Travers Smith team comprising corporate partner Edmund Reed, finance partner Andrew Gregson, corporate associate Alex Dixon and finance associates Fiona Swords and Will Sheridan advised long-standing client Phoenix on the equity and debt arrangements.