Coppergreen Developments, the owner and operator company of Woodland Lakes Lodges, a 54 lodge holiday park in Carlton Miniott near Thirsk in North Yorkshire, has secured a £25m funding package from BGF (Business Growth Fund) and HSBC. The investment supports the acquisition of Piperdam Golf and Leisure Resort, located near to Dundee, Scotland, as well as 350 acres of adjoining land, Blacklaw Estate. The business plans to develop and expand both holiday sites over the next 12 months and beyond.
BGF providing £11m of growth capital while HSBC, which has banked the business for around 10 years, has provided an additional £14m debt facility.
Sheffield-headquartered Coppergreen focuses on providing premium accommodation for long stay or short-break holidays in beautiful surroundings.
The investment will be put into many methods of entertaining its visitors; offering access to 13 fishing lakes, Woodland Lakes Lodges offers contemporary waterside lodges with an emphasis on luxury. The business plans to add further lodges to the site by the end of 2018 subject to planning permission. The funding will also support the addition of 28 lodges at Piperdam Golf and Leisure Resort while the Blacklaw Estate land will be developed for outdoor pursuits including mountain bike trails and quad biking. Piperdam boasts self-catered family accommodation, an onsite restaurant, leisure spa facilities and two golf courses and was awarded last week the Hoseasons National Relax and Explore 2016 Diamond Award for Best Lodge Park.
Coppergreen was founded by husband and wife David Copley, CEO and Donna Copley, FD, and Richard Sidi, who will retain a non-executive role going forward. Sam Wall, who has previously worked with the Coppergreen team managing a portfolio of nine parks, will join as Commercial Director. As part of the investment, Non-Executive Chairman Steve Brown, a founding director of Center Parcs UK and a former non-executive director at Forest Holidays will join the board alongside Barry Jackson who led the deal for BGF, supported by Mike Clarke.
David Copley, CEO, Coppergreen said: “The UK holiday market has traditionally lacked the type of high-quality lodge accommodation, available on short break and longer stay basis, 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, BGF said: “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.”
Sheffield-based dealmaking firm, Castle Square Corporate Finance, advised Coppergreen on the acquisition of Piperdam and on the debt and equity fundraising.