YFM Equity Partners are backing a £3 million management buy-in and buy-out (BIMBO) for Cambrian Park and Leisure.
The deal, which sees founders Richard and Esme Watson leave their business, is also being bolstered by a £4 million working capital facility from Shawbrook Business Credit.
Founded in 2007, Cambrian designs and manufactures timber holiday lodges for the UK holiday park market and is based in North Wales.
The BIMBO deal is being led by Martin Leppard, who used to be a director at Holidaybreak and MD at International Life Leisure Group, and is investing as well as becoming executive chairman at Cambrian. Joining Leppard is former Ultraframe financial controller Richard Davies and current national accounts manager Helen Scott –who are becoming operations and finance director and sales director respectively.
Leppard comments, ‘Cambrian has a strong product offering and a well-established UK brand for quality holiday lodges.
‘With the support and backing of YFM Equity Partners we look forward to expanding the sales team and rolling out new locations over the next 12-18 months.’
With a team of 120, Cambrian has grown turnover by 30 per cent during the last three years, the business says, and is forecasting turnover of £9 million for 2014.
New equity backer YFM Equity Partners has now closed ten new investments during the last year, injecting £35 million into UK businesses.
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Investment director at the firm Deborah Heyes adds, ‘2015 is set to be a strong year for growth in the UK leisure sector and we believe Cambrian is well placed to take advantage of the growing holiday home market.
‘We look forward to working with Martin, Richard and Helen as they take Cambrian to its next stage of transformational growth.’
Founder Richard Watson is retaining a part investment in Cambrian as well as serving as a consultant going forward.