The announced merger of holiday park operators Park Resorts and Parkdean Holidays will result in the largest such company in the UK. The combined portfolio of the two firms will be 73 holiday parks and these are spread around many parts of the UK.
Park Resorts’ boss Alan Parker said the two firms were the perfect complement for each other and there was no significant overlap in their fields of operations. He noted there were no plans to amalgamate their two headquarters either and Park Resorts would keep its Hemel Hempstead base and Parkdean its offices up in Newcastle.
Electra is a private equity company and current owner of Park Resorts. Commenting on the forthcoming tie-up, a spokesperson noted that the two would be worth £960 million and had the capacity to generate annual profits in the region of £100 million.
Park Resorts runs 49 holiday parks with caravans and lodges giving holidaymakers excellent choices. Most of the group’s parks are located on or close to the east coast of England with a few more in Scotland, Wales, the Lake District and Devon.
Another equity company, Alchemy Partners, owns Parkdean Holidays. This firm is bringing 24 holiday parks to the union. Its parks are mostly located in Scotland, South Wales and the southwest region of England.
Although the two parties have agreed on the merger, both the Financial Conduct Authority and the Competition and Markets Authority have to give the green light before it can go ahead. Electra is generating ready cash to the tune of £96 million with several of the UK’s largest banks.