By Ian McConnell
Business Editor
SCOTTISH holiday park operator Largo Leisure, founded in 2003 by Rupert Barrett, has been acquired by private equity firm Limerston Capital.
Largo Leisure offers self-catering lodge, caravan and glamping holidays across four parks located in Letham Feus in Fife, Braidhaugh Park in Perthshire, Sauchope Links near Crail, and Loch Tay in Perthshire. It is targeted at a “premium market”, its new owner noted.
Limerston Capital said it had appointed Andrew Howe as executive chairman of the Largo Leisure operation, as it eyes the acquisition of further holiday park businesses. Mr Howe is the founder and former chief executive of Bridge Leisure, an owner and operator of holiday parks in the UK which he successfully exited in 2021.
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Mr Howe will work alongside the business’s current senior team, including managing director Jonathan Morley, and Limerston Capital to identify growth opportunities, the private equity house said, adding: “This will include investment into the parks’ properties, potential expansion of the sites and brand development.”
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Limerston Capital said: “In addition to Largo Leisure, Limerston Capital has signalled its intentions for further acquisitions, with a specific focus on individual, or groups of, smaller holiday parks across the UK.
“Using Andrew’s in-depth knowledge of the sector and his understanding of its challenges and opportunities, the team is identifying well-run, owner-operator parks with solid customer bases that they can further enhance, recognising their value and growth potential.”
Mr Howe said: “Largo Leisure has positioned its holiday parks as destination experiences, continually improving its sites to ensure a high-end offer and attracting a premium demographic.
“With first-hand knowledge of the sector, I am excited to oversee the strategy of Largo Leisure. We have ambitious and enthusiastic plans and crucial to this is retaining the character of the parks and exploring how we can better meet the needs of customers.”
João Rosa, founding partner of Limerston Capital, said: “The UK domestic holiday market has continued to expand for several reasons, and we expect this to continue as the cost of foreign travel rises and consumers look for options closer to home.”
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