Shoosmiths has helped a leading holiday park operator complete the sale of its entire issued share capital in a deal worth £172m.
Real estate specialists at the national law firm advised client Park Holidays UK Limited on the property elements of the deal.
Led by partner Lisa Williams, Shoosmiths' Milton Keynes real estate team has particular knowledge of holiday caravan and chalet parks, and the property and planning issues associated with them.
Established in 1984, East Sussex-based Park Holidays UK Limited runs 21 freehold and two leasehold parks stretching from Devon to Suffolk, making it the largest operator in the south of England.
It sold its entire issued share capital - the total of its shares held by shareholders - and which are owned by independent private equity investor Graphite Capital, to Caledonia Investments, a self-managed investment trust.
The acquisition was funded by equity from Caledonia's balance sheet, and supported by acquisition facilities from the UK clearing banks.
Park Holidays UK Limited chief executive officer Jeff Sills said: "Ours is a specialist sector, so we needed real estate legal advice that knows what we do and how we do it inside out. Shoosmiths provided that, and helped complete what is an important deal for us."
Lisa Williams said: "This was a complex deal, with not only a tight timescale, but also the very particular issues that go with holiday caravan and chalet parks. I believe our knowledge of those issues undoubtedly helped get the deal across the line."
SJ Berwin advised Graphite Capital/Park Holidays UK Limited on the corporate aspects of the deal.