Liberty advises the management team of Forest Holidays on the investment from Phoenix Equity Partners
Forest Holidays which owns and operates secluded eco-cabins and treehouses on nine sites across Britain’s National Forests, is pleased to announce that Phoenix Equity Partners the mid-market private firm has acquired a controlling stake alongside existing shareholders the Forestry Commission and LDC. Forest Holidays has a long-term strategic partnership with the Forestry Commission under which the Company operates exclusively on its estate. The company now has 571 cabins across nine sites, with a further two in development in Snowdonia and the Brecon Beacons. The investment by Phoenix will help finance the development of existing locations and the opening of new eco-friendly holiday locations, continuing the Company’s strong growth, and offering numerous opportunities for further development. Forest Holidays’ purpose is to create positive experiences in Britain’s amazing forests; connecting people, nature and local communities. The Company’s cabins are sensitively planned around the existing forest, with minimal felling, strategic re-planting, and a very low environmental footprint due to the use of sustainable materials, such as air-source heat pumps, hydroelectric plants, and a dark skies policy across its estate. Each location is designed specifically to integrate into the forest environment, keeping open access for wildlife, local communities and visitors. Forest Holidays supports domestic rural tourism with an average sustainable contribution of £2m per annum and 60 jobs per site, benefitting the local economy.
Liberty advised the management team on all aspects of their cash out, rollover investments and new incentive plan.
Bruce McKendrick, CEO of Forest Holidays commented “Mick and his team as ever provided us with a great service. I believe they strike the right balance between safeguarding management's interests during a competitive auction and ensuring that the deal is on-market. In particular, Mick's experience means that clear focus is given to those few matters that are really important from a management perspective, making sure that the relationship with new owners sets off on the right foot” Following completion of the transaction, the Forestry Commission, LDC, and the management team will each retain significant minority stakes.