Equistone Partners Europe has acquired Willerby Group from Caird Capital
Lincoln International (“Lincoln”) is pleased to announce that Equistone Partners Europe (“Equistone”) has completed the acquisition of Willerby Group (“Willerby” or the “Company”), the U.K.’s leading manufacturer of static holiday homes. Lincoln acted as financial advisor to Equistone. Terms of the transaction were not disclosed.
Founded in 1946, Willerby has established itself within the U.K. holiday home market as a brand associated with premium quality, technical innovation and breadth of offering. From its two recently expanded production sites in Hull employing c.900 people, Willerby today manufactures approximately 70 different models of static caravans and lodges across 23 product ranges at a variety of price points. The Company is the largest provider of static caravans and lodges in the U.K., serving the retail and fleet markets through its strong and extensive national dealer network and long-standing relationships with holiday park operators. Willerby generates an annual turnover of £155 million.
Andi Tomkinson, Investment Director at Equistone, commented, “Lincoln’s considerable knowledge of the industry, insight into the market and hands-on approach contributed significantly to the successful execution of this transaction. We are excited to partner with Willerby and see through the next phase of its growth cycle.”
Lincoln acted as financial advisor to Equistone, providing guidance on investment rationale and market dynamics, supporting valuation analysis and co-managing third-party diligence providers.
About Willerby Group
Over the last 70 years Willerby has gained a strong reputation for high-quality, beautifully designed products. Its policy of continuous improvement and a customer-focused approach underlines its commitment to remaining firmly at the forefront of the holiday home industry. With a wide range of static holiday homes and lodges, Willerby has become synonymous with innovative design, stylish interiors, and above all, exceptional quality standards. Generating a turnover of £155 million a year, Willerby has become a substantial and well-established business with a brand that is recognised across the U.K. Now in its 71st year, Willerby is the largest static holiday home manufacturer in the U.K.
Further information can be found at www.willerby.com.
About Equistone Partners Europe
Equistone is an independent investment firm wholly owned and managed by its executives. The company is one of Europe’s leading investors in mid-market buyouts with a strong, consistent track record spanning over 30 years, with more than 400 transactions completed in this period. Equistone has a strong focus on change-of-ownership deals and aims to invest between €25 million and €125 million of equity in businesses with enterprise values of between €50 million and €300 million. The company has a team of over 35 investment professionals operating across France, Germany, Switzerland and the U.K., investing as a strategic partner alongside management teams. Equistone is currently investing its fifth buyout fund, which held a final closing at its €2 billion hard cap in April 2015.
Equistone is authorised and regulated by the Financial Conduct Authority. Further information can be found at www.equistonepe.com.
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