PRIVATE equity-backed Verdant Leisure has acquired the Erigmore Estate holiday park in Birnam in Perthshire, and highlighted its appetite for further purchases.
Erigmore is its seventh holiday park in Scotland.
Verdant, which has been backed by Palatine Private Equity since April 2016, said it remained keen to add further parks to its portfolio during 2020. Palatine cited “strong demand” for UK “staycations”.
Graham Hodgson, chief executive of Verdant, said: “This acquisition is a perfect choice... in terms of the geographical location and the excellent quality of the park. Scotland is an area we know well. Erigmore leisure park will bring a further 200 pitches to the group and we have further investment planned over the next 24 months.”
Verdant noted it now operated more than 3,000 pitches of privately owned lodges, holiday homes, holiday lettings and touring facilities, across a 10-strong portfolio.
The group was founded in September 2010 following a management buy-in of Dunham Leisure, owner of Pease Bay and Thurston Manor leisure parks in south-east Scotland. Verdant purchased Viewfield Manor leisure park in Ayrshire in July 2011. It went on to buy Riverside leisure park in Northumberland in 2012.
Verdant then added Kingfisher and Heather View leisure parks in Wear Valley, and Coldingham Bay, near Eyemouth in the Scottish Borders, to the portfolio.
Scoutscroft leisure park at Coldingham was purchased in February 2018. This deal was followed by the acquisition of a leisure park at Queensberry Bay in Dumfriesshire in October 2018.
James Painter, investment director at Palatine Private Equity, said: “Buy and build is a key part of Verdant’s growth strategy with Erigmore representing the sixth acquisition since our initial investment.”
Separately, Scottish garden centre group Klondyke yesterday announced its acquisition of the Garden Wise business in Dumfries from Alistair and Gillian Bertram, who it noted would be retiring after a long career at the site.
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