Two holiday parks within the North Yorkshire Moors Forestry Commission have been subject to a management buyout.
Forest Holidays has taken control of Cropton Forest and Keldy Forest, on the outskirts of Pickering, along with five other estates it operated.
The deal, which was supported by investment from private equity firm LDC, has enabled existing shareholer The Camping and Caravanning Club to fully exit the business, while the Forestry Commission will retain a significant shareholding.
Established in 2006 and headquartered in Moira in Derbyshire, Forest Holidays has 315 cabins set in seven Forestry Commission estates across the UK. As well as Keldy Forest and Cropton Forest it runs sites in Argyll and Strathyre in Scotland, the Forest of Dean and Sherwood Forest in the Heart of England and Deerpark Forest in Cornwall. The business has more than 100 employees.
In the past two years, the business has added more than 150 new cabins to its offering, with 76 in the Forest of Dean, 19 at Cropton and Keldy in North Yorkshire and 65 in Sherwood Forest which opened earlier this year.
Bosses at Forest Holidays say the deal will provide the capital required to help support the continuing growth of the tourism business through a proactive sales and marketing programme, alongside an accelerated cabin build programme which will include additional new sites in key locations within the UK.