Shoosmiths advises on multi-million pound merger of leading leisure businesses

Shoosmiths advises on multi-million pound merger of leading leisure businesses

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Author: Kara Shadbolt

Shoosmiths has advised on the merger of Northamptonshire based Prestige Park & Leisure Homes Limited and Homeseeker Park & Leisure Homes Limited, two of the UK's leading names in the leisure lodge and park residential manufacturing industry, as part of a multi-million pound refinancing deal.

The merger is backed by a £13m investment from Praesidian Capital as well as additional inward investment from major shareholders and the management team that will facilitate the ambitious plans for growth.

The merged group will continue to trade under their separate Prestige and Homeseeker brands, enabling them to keep their commercial identity in the successful UK leisure market.

The Shoosmiths corporate team was led by partner Sanjeev Sharma and included senior associate Iain Butler, associate Gareth Cook and solicitor Aleks Bosch.

Silvano Geranio, Founder Shareholder of Prestige Park & Leisure Homes Limited, commented: 'The team at Shoosmiths impressed us throughout. They helped to drive the transaction forwards and showed tremendous commitment. Sanjeev, in particular, is a superb operator'.

'The deal will ensure both Prestige and Homeseeker continue to be leaders in the leisure market and we look forward to working with Shoosmiths in the future.'

Sanjeev Sharma added: 'We are very pleased to have assisted on this MBO that will provide a further boost to the already thriving UK leisure industry. I wish Praesidian, the shareholders and the management team all the best for the future.'

Shoosmiths' corporate team advises public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.

Nationally, the corporate team is ranked in joint first place by deal volume in Experian's UK Deal Review and Advisor League Table. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.