Bourne Leisure, a premier holiday group, has been acquired by funds managed by Blackstone Capital Partners and Blackstone Real Estate Partners for an undisclosed sum.
The Haven, Butlin’s, and Warner Leisure Hotels operator is co-investing along Blackstone’s subsidiaries, with its founding families holding a majority stake in the business.
An employer of over 16,000 staff members, Bourne Leisure attracts an annual 4.5 million guests to its 56 sites across the UK.
Paul Flaum, CEO at the leisure group, said: “We are delighted to be partnering with Blackstone who have demonstrated a real understanding of our business and sector, and we look forward to working together to deliver on our exciting plans for the future.
“We are also delighted that our founding families will continue to be involved in the business through their significant family minority co-investment.”
Blackstone has had a number of forays into the wider hospitality, travel, and leisure sectors, including prior investment in Centre Parcs and its current ownership of the visitor attraction and theme park operator, Merlin.
Lionel Assant, European head of private equity at Blackstone, highlighted how the firm can support the UK’s post-Covid recovery through its investment experience in the leisure sector.
He said: “We are long-term believers in the UK and are delighted to invest meaningful capital, despite recent uncertainty, to support the recovery of a Covid-impacted industry, and wider local economies.
“Our strong track record investing in the UK leisure sector will allow us to further enhance the company’s unique, high quality assets across the country, and continue building on its success for guests, holiday-home owners and team members over the last 57 years.”