UK holiday park operators Parkdean and Park Resorts have revealed merger plans to create a leader in the UK domestic holiday sector.
The Competition and Markets Authority has been formally notified and will need to clear the deal.
The proposed combined company would have turnover of £370 million and run 73 holiday sites serving 1.8 million holidaymakers.
The group would have earnings [EBITDA] of £92 million and serve 22,200 caravan owners and offer 35,400 pitches.
Parkdean is majority owned by Alchemy Partners and Park Resorts majority owned by funds under the management of Electra Partners .
Both will retain equity involvement in the enlarged group.
Parkdean and Park Resorts are complementary businesses and claim to have minimal location overlap.
A statement said: “With Parkdean’s strength in the southwest and Scotland, and Park Resort’s sites predominately located on the east coast and the north-west, including the Lake District, the merger combines diverse portfolios to create a business with UK wide, national coverage".
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