A holiday park operator has received a £25m investment to buy a resort in Scotland.
Coppergreen Developments secured funding to help them buy Piperdam Golf and Leisure Resort, near Dundee. The investment will also see it purchase 350 acres of adjoining land at the Blacklaw Estate.
Coppergreen, founded by husband and wife team David Copley, CEO and Donna Copley, financial director, and Richard Sidi, already owns a 54-holiday lodge development at Thirsk, North Yorkshire.
£11 million of the funding has come from the Business Growth Fund- run by a consortium of banks – and a £14m debt facility from HSBC, reports the Sheffield Star.
The firm was founded by husband and wife team It already owns a 54-lodge holiday park in near Thirsk, North Yorkshire.
Mr Copley told The Star: “The UK holiday market has traditionally lacked the type of high-quality lodge accommodation that Woodlands and Piperdam offer guests.
“We are focused on thoughtfully and sensitively expanding the sites so that even more holidaymakers can enjoy first-class accommodation in beautiful surroundings. We’re delighted to have received further support from our bank, HSBC, and to be entering into a new partnership with BGF as we implement our growth plans.”
Barry Jackson, of BGF said: “We are backing a proven management team with very clear growth plans. It is fantastic to see our funding has already enabled the business to scale-up through the acquisition of Piperdam, and we look forward to seeing the team develop the new lodges and site facilities with BGF’s growth capital.
“During the past five years, BGF has backed more than 150 small and mid-sized British businesses. This has been our busiest 12 months to date, and we are delighted to have now made our first investment in a Sheffield headquartered company.”