LDC has backed Forest Holidays’ existing management team, which is led by CEO Gary Fletcher.
The company intends to use the proceeds to continue to expand operations, through a proactive sales and marketing programme, alongside an accelerated cabin build programme which will include additional new sites in key UK locations.
Established in 2006, Forest Holidays currently has 315 cabins set in seven Forestry Commission estates across the UK – Argyll and Strathyre in Scotland, Cropton Forest and Keldy in North Yorkshire, the Forest of Dean and Sherwood Forest and Deerpark Forest in England.
The business has more than 100 employees.
Banking facilities, including the provision of future development financing, were provided by Lloyds Bank Wholesale Banking & Markets in Birmingham. Existing shareholder The Camping and Caravanning Club fully exited the business, while the Forestry Commission will retain a significant shareholding.
The management team will be also supported by the appointment of Peter Phillipson, previously Chairman of The Tussauds Group, as Non-Executive Chairman. LDC’s Martin Draper and Andy Grove will join the board of the company.