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Permira Debt Managers acts as sole lender in refinancing of Away Resorts


Permira Debt Managers (PDM) is acting as sole lender in the refinancing of Away Resorts’ existing debt.

PDM’s support will also enable Away Resorts to acquire its sixth park, Sandy Balls, based in the New Forest.
 
In addition to the refinancing, PDM funds have also provided a capex facility to enable Away Resorts – a portfolio company of private equity firm LDC – to continue improving and expanding the range of facilities and accommodation provided across its six resorts.
 
Founded in 2007, Away Resorts owns and manages holiday resorts across the UK in locations such as the Isle of Wight, Tattershall Lakes, Snowdonia and Mersea Island. The sites cover in excess of 1,000 acres of land in attractive locations, all of which is owned freehold by the group. Each resort offers a wide range of onsite facilities and comprises a balanced mix of pitch types including caravans, lodges, chalets and touring pitches.
  
Dan Hatcher, investment director at Permira Debt Managers, says: “A combination of proven robust demand for UK based vacations and significant freehold assets makes the holiday park sector an attractive one. LDC and the management team at Away Resorts are the leading operators in the holiday park space. We have a strong relationship with LDC and look forward to working with them and the Away Resorts team to enable the business to exploit the growth opportunities available.”

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