20th June 2006
Dow Schofield Watts LLP advised the management team of South Lakeland Caravans Limited (“South Lakeland”) on their management buy-out funded by LGV.
South Lakeland owns nine lodge and caravan parks in and around the Lake District and Morecambe Bay regions. Two of its Lake District parks, White Cross Bay and Fallbarrow are situated on the shore of Lake Windermere, whilst a third, Limefitt is situated in the Troutbeck Valley.
South Lakeland operates predominantly on the owner-occupier model, generating most of its revenue from the sale of caravans and lodges. It is a leading provider of timber-lodge units in the country, which represents a fast growing market. The company also maintains a hire fleet and a small number of touring pitches for caravans and tents.
Newco has acquired South Lakeland from John Morphet, who has built the business since its establishment in 1988. LGV will be backing the existing management team, led by Chief Executive, Graham Hodgson. The team will be supported by the introduction of a new Finance Director, Nigel Wimpenny, formerly Finance Director of Burtonwood Brewery plc.