CFI advised Bluestone National Park Resort on its debt funded secondary buyout


Cardiff –  CFI United Kingdom acted as the exclusive financial advisor to Bluestone on its debt funded secondary buyout.

5* National Park Resort in Pembrokeshire. All weather free range lodge and cottage breaks with spa, waterpark and activities for all ages.

The latest deal with debt finance provided by Barclays, in what is a secondary management buyout, sees William (Chief Executive) and Pamela McNamara (Operations Director) becoming the company’s biggest shareholders. The deal provides a significant exit for a group of investors that include chief executive of FTSE 100 Admiral Group, David Stevens, former finance director Andrew Probert and the wife of former chief executive Henry Engelhardt, Diane Engelhardt. They will retain a minority stake of 25% in the business, having backed a £10m plus management buyout deal in 2013. A 30% equity stake is also passed to management and staff through an Employee Benefit Trust (EBT), believed to be unique in the resort sector.

Mr McNamara said: “Our original vision for Bluestone, which began some two decades ago, has been realised over the past three years. This culminated earlier this year in the completion of our third phase which took the number of five star lodges, cottages and studio apartments to more than 300. Staff are the heart of the customer experience at Bluestone and therefore our success as a business overall, so I’m delighted that our plans for an Employee Benefit Trust have become a reality. The EBT will reward staff for their incredible loyalty and commitment and ensure they have a new opportunity to be recognised for the outstanding job they do for our guests. We now have our sights firmly set on the future and our staff will continue to play a key part of this vision.”

The transaction closed on 19 December 2016.

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