BGF injects further £10m into Coppergreen

The deal, which also includes and additional £15.3m debt package from HSBC, will see Coppergreen acquiring Kenwick Park Estate in Lincolnshire and a site adjacent to National Trust property Clumber Park in Nottinghamshire.

The transaction comes two years after BGF invested £11m in Coppergreen as part of a £25m funding package to support the acquisition of Piperdam Golf and Leisure Resort near Dundee, along with 350 acres of adjoining land. HSBC provided the remaining £14m by way of a debt facility in the original deal.

Since BGF's initial investment, Coppergeen has built additional lodges at its existing sites – Piperdam and Woodland Lakes – and added a pool, gym, shop, cafe, new reception and additional leisure facilities to the Woodland Lakes site.

The newly acquired Clumber Park site has planning permission for the construction of 129 lodges, a shop, a gym, a swimming pool, a restaurant and a reception.

Company
Kenwick Park Estate completed its conversion from a private estate into a leisure facility in 1992, opening a hotel and golf course. It is located on the outskirts of Louth and today comprises a hotel, spa, golf course and lodges. The site's accommodation comprises 90 lodges and a 34-room hotel.

People
BGF – Barry Jackson (investor).
Coppergreen Developments – David Copley (CEO).

Advisers
Equity – Castle Square, Kevan Shaw, Steve Bell (corporate finance); Shoosmiths, James Foster, Natalie Hager (legal); Dow Schofield Watts, Rob McCarthy (financial due diligence); Addleshaw Goddard, James Tatro (legal).
Debt – Keebles (legal).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• BGF (Business Growth Fund)
• Dow Schofield Watts
• Addleshaw Goddard
• Build-up