RJD Partners backs management buy-in of Dunham Leisure Limited
HMT advised an MBI team and RJD Partners on the management buy-in of Dunham Leisure Limited (“Dunham”), a leading holiday park business based in South East Scotland.
The management team is led by Graham Hodgson as Chief Executive and Beverley Dixon as Operations Director. Graham and Beverley previously led the private equity backed MBO of South Lakeland Parks (“SLP”) in June 2006, before the business was successfully sold in December 2007. The MBI has been financed through a combination of investment by management and funds managed by RJD together with banking facilities provided by Yorkshire Bank Corporate & Structured Finance.
Dunham was previously owned by Dennis Dunham, a leisure and property entrepreneur, along with other members of his family. The business comprises two well established parks: Thurston Manor, a 175 acre park situated 30 miles from Edinburgh near the historic coastal town of Dunbar in East Lothian; and Pease Bay, which is situated directly beside a sandy beach, five miles south east of Thurston Manor.
Richard Caston, Partner, RJD Partners commented:
“Having tracked the sector for some time, RJD is delighted to back Graham Hodgson, and Bev Dixon as an experienced management team with an impressive track record in this sector. The Dunham parks are well established but nevertheless offer significant development potential and represent an excellent platform for further park acquisition opportunities.”
“Despite the challenging economic climate, we believe the holiday park sector will continue to benefit from recent trends such as Staycation as well as the increasing demand for owner-occupied holiday accommodation, thus providing very good opportunities for value creation.”