The UK’s Haulfryn Group has returned to 100 per cent family ownership after 43 years, it has been announced.
The group, which is the UK's largest combined holiday and residential park operator, has stated that the return to 100 per cent family ownership is key to its long-term growth and branding.
The group operates 35 luxury holiday and residential lodge parks across north Wales, the south-east and the south west; and last year reported a substantial rise in profits as well as a £60 million refinancing deal with Barclays Corporate.
Haulfryn Group was family owned until 1968, when the investment group 3i acquired 10 per cent of the equity. 3i's stake increased to 28 per cent on a major expansion in 1991 of the company's estate; but in 2004 Haulfryn Group reduced 3i's stake to 25 per cent via a share repurchase and has now completed the full repurchase.
Commenting, Stephen Minoprio, chairman of the Haulfryn Group, said: "By the year 2000, it became clear that 3i were moving away from their original company investment aims, and adopting a different corporate purpose, in heading towards a more conventional company buyout and resale strategy.
"After long and difficult negotiations, we finally struck a deal to repurchase 3i's shares, with the help of the refinancing package we arranged with Barclays Corporate in 2010.
"A continued and strong family involvement in the business is important to us, and marks a distinction between the way we and other holiday and residential park companies operate,” he continued. “Family members hold a number of key positions on the board, and the Minoprio name plays an important role in the Haulfryn brand. This family approach is certainly important to our customers, and reinforces our personalised attitude towards our business, and our belief that we have a superior product in the marketplace."
Haulfryn has a total of 20 holiday and 15 residential parks, and this year celebrates its 76th anniversary.
