Advisers to holiday park operator, John Fowler Holidays, on its acquisition of Ruda Holiday Park
Case Study
FRP secure funding for family-run holiday business, seeking to expand
FRP’s team carried out financial due diligence and modelling for an established holiday operator looking to expand with a multi-million-pound acquisition
Background
John Fowler Holidays (John Fowler) is a well-established holiday park operator.
Founded over 70 years ago, the family-owned business has built a portfolio of 13 parks across the South West and South Wales. It was looking to acquire long-standing Ruda Holiday Park in Devon – a 300-acre site, which has 817 pitches for static lodges and caravans, touring and tenting, as well as a glamping village – as the next step in its ambitious growth strategy.
Action
FRP’s Financial Advisory team was appointed by the business and its lender, HSBC UK, to carry out financial due diligence on the proposed target site, the enlarged group and the serviceability of a proposed new bank facility.
Outcome
Acting on our recommendations, John Fowler was able to negotiate terms with HSBC UK that would fully support its growth trajectory, with appropriate covenants that still gave the business headroom in downside scenarios.
Following these negotiations – and working in collaboration with FRP’s Corporate Finance team, which was undertaking an advisory buy-side role – HSBC UK agreed to provide facilities to support John Fowler’s acquisition plans.
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