Irwin Mitchell Advises On Landmark Deal For BGF

Sheffield-based Coppergreen Developments, the owner of Woodland Lakes Lodges, a holiday park in Carlton Miniott near Thirsk, has secured a £25m funding package from BGF (Business Growth Fund) and HSBC.

The investment has been used to support the acquisition of Piperdam Golf and Leisure Resort near Dundee, as well as 350 acres of adjoining land, Blacklaw Estate.

BGF is providing £11m of growth capital while HSBC has provided an additional £14m debt facility.

This investment takes the total amount provided by BGF to growing small and mid-sized businesses in Britain to more than £1bn. Since it was established in 2011, BGF has provided funding to 155 companies.

Coppergreen was founded by husband and wife David Copley, CEO and Donna Copley, FD, and Richard Sidi, who will retain a non-executive role going forward. Sam Wall, who has previously worked with the Coppergreen team managing a portfolio of nine parks, will join as Commercial Director. As part of the investment, Non-Executive Chairman Steve Brown, a founding director of Center Parcs UK and a former non-executive director at Forest Holidays will join the board alongside Barry Jackson who led the deal for BGF, supported by Mike Clarke.

Coppergreen focuses on providing high-quality accommodation for long stay or short-break holidays in beautiful surroundings. With access to 13 fishing lakes, Woodland Lakes Lodges offers contemporary waterside lodges with an emphasis on luxury. The business plans to add further lodges to the site by the end of 2018 subject to planning permission.

The funding will also support the addition of 28 lodges at Piperdam Golf and Leisure Resort while the Blacklaw Estate land will be developed for outdoor pursuits including mountain bike trails and quad biking.

David Copley, CEO, Coppergreen said: “The UK holiday market has traditionally lacked the type of high-quality lodge accommodation, available on short break and longer stay basis, that Woodlands and Piperdam offer guests.

“We are focused on thoughtfully and sensitively expanding the sites so that even more holidaymakers can enjoy first-class accommodation in beautiful surroundings. We’re delighted to have received further support from our bank, HSBC, and to be entering into a new partnership with BGF as we implement our growth plans.” 

Barry Jackson, BGF said: “We are backing a proven management team with very clear growth plans. It is fantastic to see our funding has already enabled the business to scale-up through the acquisition of Piperdam, and we look forward to seeing the team develop the new lodges and site facilities with BGF’s growth capital.

“During the past five years, BGF has backed more than 150 small and mid-sized British businesses. This has been our busiest 12 months to date, and we are delighted to have now made our first investment in a Sheffield headquartered company.”

Corporate partner at Irwin Mitchell in Leeds, James Foster, Corporate solicitor Natalie Hager, Banking & Finance partner Paddy Sturman, Real Estate partner John Flathers and Real Estate associate Clare Davitt advised BGF on the deal.