YFM invests £3m in CP&LH BIMBO

Former Holidaybreak director and International Life Leisure Group managing director Mark Leppard has invested in the company and will join as executive chairman. Former Ultraframe financial controller Richard Davies has joined as operations and finance director, while the company's existing national accounts manager Helen Scott has become sales director.

CP&LH owners Richard and Esme Watson are selling the business to the consortium. Richard Watson is retaining a stake and will act as a consultant to the company. The Watsons originally purchased CP&LH in 2007.

The consortium is also acquiring CP&LH's sister company, Cambrian Kitchens, as part of the transaction.

CP&LH will bolster its sales team and plans to expand into new parks and regions over the next 12-18 months.

The deal marks YFM's 10th investment so far this year, bringing the total amount invested in 2014 to £35m.

Debt
Shawbrook Business Credit has supported the transaction with a £4m working capital facility.

Company
Headquartered in Porthmadog in North Wales, CP&LH designs and builds timber holiday lodges for the UK holiday park market.

The company offers 15 different styles of home. It employs 120 staff and is expected to generate £9m in revenues in 2014.

People
Martin Leppard is the new executive chairman of CP&LH. Deborah Heyes is an investment director at YFM.

Advisers
Equity – DWF, Nicola Frost, Nick Hawthorne, Alasdair Mackinnon (Legal); DTE Business Advisers, Matthew Beckley, Ben Jaffray, George Lovell, Richard Taylor (Financial due diligence, tax); The Quinn Partnership, Mike Stiles (Management due diligence).
Management – Baker Tilly, John Gillibrand, Nick Wyatt (Corporate finance); Shoosmiths, Kieran Toal, Damien Brown (Legal).
Vendors – KBS Corporate Finance, Anthony Richardson (Corporate finance); Aaron & Partners, Jamie Hawley (Legal).

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• Topics
• UK / Ireland
• Buyouts
• Consumer
• YFM Group
• United Kingdom