5 June 2023 - Limerston Capital LLP (“Limerston Capital”) is pleased to announce that Limerston Capital Partners II, L.P. portfolio company Largo Leisure Holidays has acquired holiday park Cruachan Farm, the first bolt-on investment in its acquisitive-driven growth plan.
Limerston acquired Largo Leisure, comprising of four Scottish holiday parks, in March 2022 and has so far made significant investment in operational upgrades of the business. Investment and improvements have also been made to Largo Leisure’s portfolio with optimisation of pricing and occupancy to improve profitability, the upgrade of existing lower yielding rental units into premium ones, development of additional pitches/units as well as development of additional on-site amenities.
Cruachan Farm is adjacent to Largo Leisure’s existing Loch Tay property. The sites will continue to operate as separately branded sites and will benefit from considerable operational synergies from the two parks working together.
Andrew Howe, Chairman of Largo Leisure said, “This is a great first bolt-on for Largo Leisure as it embarks on its acquisition growth plan. Cruachan Park will benefit greatly from the synergies offered by being adjacent to our Loch Tay Park and we are glad to broaden the offering to holidaymakers in the area.”
Mirza Delibegovic, Partner of Limerston Capital said, “Largo Leisure has great growth potential through its ability to scale up through acquisition. We have set the groundwork over the past year with significant investment in the operational side of the business to give ourselves a smooth transition to a much larger business through further acquisitions across the country.”
For more information, please contact:
Martim Avillez, Limerston Capital Founding Partner
martim.avillez@limerstoncap.com +44 (0)203 897 1860
Media:
Caroline Villiers cvilliers@keplercomms.com +44 (0)7808 585184
Charlotte Balbirnie cbalbirnie@keplercomms.com +44 (0)7989 528421
About Limerston Capital
Founded in 2015 by James Paget, João Rosa and Martim Avillez, London based Limerston Capital pursues control investments in UK mid-market companies and seeks to create value through the firm’s buy-and-build and operationally focused model. The firm targets businesses with EBITDA of between £5 million and £15 million that have a solid value proposition, but have potential for operational improvements, have mispriced underlying returns on capital and provide opportunities for strategic repositioning via consolidation.
About Largo Leisure
Largo Leisure offers self-catering lodge and caravan holidays across Scotland with units ranging from glamping pods to large-scale premium lodges and a mix of owned and rental properties. The four existing parks are in premium locations, with proximity to large urban centres.
www.largoleisure.co.uk
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