RJD backs Verdant Leisure bolt-on

RJD provided further equity funding to finance the acquisition of Viewfield, alongside an additional debt tranche from Yorkshire Bank. The vendor was a private family vehicle.

RJD first invested in Verdant in September 2010, backing a management buy-in of Dunham Leisure Limited, the then owners of the Pease Bay and Thurston Manor parks.

Verdant recognised that the two parks offered an attractive platform from which to implement a buy-and-build strategy to create a larger regional group with significant scale.

Company
Verdant’s first bolt-on acquisition, Viewfield Manor, is located a few miles inland from the Ayrshire Coast and 20 miles from Glasgow. The site, with 298 pitches, offers significant development potential, according to Verdant. Verdant owns and operates two holiday parks in South East Scotland.

People
Richard Caston, Frank Bulman and Richard Court worked on the deal for RJD.

Advisers
Company – KPMG (Financial due diligence); Eversheds (Legal); CBRE (Property due diligence); JLT (Insurance).

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• Expansion
• UK / Ireland
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• Acquisition finance