Pontin’s executive chairman Graham Parr has led a management buyout (MBO) of the holiday camp operator for an undisclosed sum.
Parr, along with chief executive Ian Smith, property director Clarke Osbourne and non-executive director John Parr, have formed investment and management company Ocean Parcs to run the group’s seven sites.
The Pontin’s deal was backed by Abbey UK Corporate Banking.
The new owners intend to market the sites to families looking for an environmentally friendly UK holiday that eschews the impact of air travel.
Smith said: “With people becoming increasingly aware of carbon emissions and the increased costs associated with environmentally unfriendly travel, more and more people are choosing to holiday more frequently and closer to home.”
He added that Pontin’s had “significant potential” to increase the number of guests in its sites by adopting a “modern and stylistic approach to holidaying in the UK”.
Pontin’s has sites in Blackpool and Southport in Lancashire, Pakefield and Hemsby in Norfolk, Prestatyn Sands in North Wales, Brean Sands in Somerset and Camber Sands in Sussex.
Pontin’s rival Butlins was recently named in the Sunday Times Best Places to Work For list.
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By Christopher Walton