The York-based luxury holiday home company Park Leisure has secured a £103m partnership deal with Midlothian Capital Partners (MCP).
The deal follows a period of sustained growth for the luxury holiday home operator and it will support Park Leisure’s next phase of expansion. It is anticipated the deal will be completed by Easter this year.
Park Leisure’s CEO Gary Molloy has also announced that he will step down from his current position, to explore new opportunities.
Park Leisure co-founder Miles Dewhurst will take the helm, supported by the existing management team and MCP.
Mr Molloy said: “After 19 dedicated years I have decided to take a back seat and exit the business over this coming season.
“With 10 parks across the UK and a clear focus on quality, we have built a unique offering for our holiday home owners.”
Mr Dewhurst, the CEO-designate of Park Leisure, added: “As we turn the page on a new chapter with Park Leisure, I’m excited for the opportunity ahead and know that we have the right partners in MCP to deliver a great future for the business.
“They are providing the capital investment to secure the long-term growth and future of Park Leisure and are committed to further investing in the development of our parks.”