Fri, 19 Jul 2019 | BUSINESS SALE
An outdoor water activity centre has been successfully sold to its incumbent management team, with the deal advised by DTE Corporate Finance for an undisclosed sum.
DTE Corporate Finance, based in Bury, advised Prospects Services Limited (which is a subsidiary of the Shaw Trust Charity) on the sale of its South Cerney Outdoor in Gloucestershire to its management team led by Matt Pritchard.
The centre was originally acquired by Prospects Services Limited from Gloucestershire County Council in 2012.
It boasts one of the oldest and deepest lakes in the Cotswold Water Park and provides a range of water-based activities for groups and individuals, for educational institutions and corporate organisations alike.
The buyout was a part of the management team’s broader mission to further enhance their vision of delivering activities, education and training for young people and the wider community in partnership with the county council.
Chief executive of Shaw Trust, Chris Luck, said: “South Cerney outdoor is an excellent facility with superb commercial opportunities for growth.
“The trustees and I are pleased Matt Pritchard and his team will be developing these further and that this buyout secures the jobs of the talented staff and future of the centre.”
Adding to this, corporate finance director at DTE, Andy Humphrey commented: “It has been a pleasure to again work with a business within Shaw Trust, helping to align their purpose and values to their business activities.
“In particular, this transaction was worth investing in, given the aspirations of Matt and his team.”
Legal advice was provided by Caroline Litchfield, a corporate partner at Brabners.
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