Senior managers at Britain’s largest caravan park operator will share a £70m windfall after the company was sold to a Canadian private equity house.
Britain’s biggest holiday parks business Parkdean Resorts sold to the Toronto-based Onex Corporation for £1.35bn amid rising demand for UK-based “staycations” after sterling’s slump. The managers owned a minority stake in the business.
The private equity firm agreed to purchase the camping and caravan specialists in a deal that hands ownership and operation of 73 holiday parks across England, Scotland and Wales to the Canadian business.
Parkdean Resorts owners Alchemy and Epiris, formerly Electra, previously shelved plans …
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