Electra's Park Resorts bolts on Summerfields Holiday Park

The acquisition of the Norfolk-based holiday park brings the total number of resorts under Park Resorts' ownership to 49.

The bolt-on is the second since Electra first acquired a stake in Park Resorts for £45.5m in January 2012. It follows the company's acquisition of Eastern Parks from Bluebird Partners and a European bank for £49m in August 2014.

Park Resorts plans to expand Summerfields' offering with new kids' club, water and sports resorts programmes, as well as live entertainment.

Previous funding
Electra first invested in Park Resorts in 2012, acquiring Lloyds' stake in the company for £45.5m. This increased to 54% in 2013 following a debt refinancing.

Company
Summerfields Holiday Park is a holiday home park located near Great Yarmouth in Norfolk with accommodation for 200 people.

The park was previously operated by Richardson's, and caters to around 16,000 visitors a year.

People
David Boden is CEO of Park Resorts.

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• Topics
• Portfolio management
• UK / Ireland
• Consumer
• United Kingdom
• Electra Partners LLP
• Acquisition finance