Prior to our investment, growth of the business has been fully financed by internally generated cashflows with no external investment. In addition, we have identified significant opportunities for value creation through operational improvements.

We developed a clear value creation roadmap and a pipeline of off-market opportunities to enable us to deploy a significant amount of capital in building a platform of scale. We partnered with an experienced executive team from the sector to add capabilities required to deliver the ambitious growth plan, both organically and through acquisitions.

Our immediate focus post-acquisition is on optimisation of pricing and occupancy to improve profitability, upgrading existing lower yielding rental units into premium ones, development of additional pitches/units as well as additional on-site amenities.

Central to the investment thesis is a buy-and-build rollout of Largo’s differentiated offering across a number of additional parks in the vicinity and further afield. The existing four parks operate in a regional cluster that allows for shared management resource, shared services and cross-selling and effective capacity management. To make use of this, we will be driving the acquisitions of other small, independent local parks to be added to the existing cluster and upgraded to replicate the Largo offering. We have identified a long list of well suited, predominantly small, independently operated caravan and holiday parks which would fit quite well with the current offering.

There is an opportunity to replicate the park cluster concept in other attractive UK locations through the acquisition of small regional groups with a similar offering, and by utilising same strategy as with Largo of upgrading and expanding existing locations and growing the regional presence through acquisitions and upgrade of additional parks.