CVC Capital Partners’ Investment In Away Resorts

Osborne Clarke advised the management team of Away Resorts on the deal, while Willkie Farr & Gallagher LLP advised Freshstream.

CVC Capital Partners Fund VIII has reached the agreement to acquire a majority stake in Away Resorts from Freshstream. Freshstream invested in Away Resorts in August 2019, acquiring a controlling majority shareholding, with LDC retaining a significant minority stake.

Founded in 2008, Away Resorts operates nine parks in prime UK holiday destinations, including Tattershall Lakes in Lincolnshire and Sandy Balls in the New Forest, welcoming almost 200,000 holiday-makers each year. The business recently expanded through the acquisition of popular Cornwall holiday park St Ives Bay, and over the past few years has invested heavily into its existing estate, to expand parks and add state-of-the-art facilities and entertainment complexes.

Freshstream is an investment firm investing in growing businesses in Western Europe, with a particular focus on the UK and Benelux markets. This is Freshstream’s second full exit and fourth significant liquidity event in Fund 1 since making its first investment in 2016.

The Osborne Clarke team which advised the Away Resorts management included private equity Partner Tim Hewens (Picture) and private equity senior associate Leanne Maund.

The Willkie team advising Freshstream was led by partners Claire McDaid and Philip Coletto and included partners Henrietta de Salis, Jane Scobie and Ashley Young.

Involved fees earner: Tim Hewens – Osborne Clarke; Leanne Maund – Osborne Clarke; Philip Coletto – Willkie Farr & Gallagher; Henrietta de Salis – Willkie Farr & Gallagher; Claire McDaid – Willkie Farr & Gallagher; Jane Scobie – Willkie Farr & Gallagher; Ashley Young – Willkie Farr & Gallagher;

Law Firms: Osborne Clarke; Willkie Farr & Gallagher;

Clients: Away Resorts; Freshstream Investment Partners;

Author: Federica Tiefenthaler