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Equistone invests in holiday home manufacturer Willerby
Founded in 1946, Willerby, the UK’s leading manufacturer of static holiday homes, has established itself within the UK holiday home market as a brand associated with premium quality, technical innovation, and breadth of offering. From its two recently expanded production sites in Hull employing c.900 people, Willerby today manufactures approximately 70 different models of static caravans and lodges across 23 product ranges at a variety of price points. Willerby is the largest provider of static caravans and lodges in the UK, serving the retail and fleet markets through a strong and extensive national dealer network and long-standing relationships with holiday park operators.
Equistone Partners, one of Europe’s leading mid-market private equity investors, has announced its investment in Willerby. Equistone has acquired a majority stake in the company from Caird Capital.
Willerby generates an annual turnover of £155m. Equistone’s investment will support the Willerby’s expansion within the growing UK holiday home market by leveraging its strong brand, new product development, and quality production to meet growing consumer demand.
Andi Tomkinson, Investment Director at Equistone Partners Europe, said: “Willerby is the clear UK market leader in terms of both scale and breadth of product offering. It also enjoys an established reputation for quality and innovation rooted in over seven decades of its history, and has exhibited strong growth in recent years. When you combine this with the attractive fundamentals of the wider UK holiday home sector – namely a strengthening ‘grey pound’ driven by demographic change and the long-term upswing in Britons’ propensity for ‘staycations’ – the opportunity to invest was an exciting one. We look forward to working with CEO Peter Munk and the entire Willerby team to help the business realise its potential for further growth.”
Peter Munk, CEO of Willerby, commented: “The market opportunity within the UK holiday home sector is exciting and, with our scale, skilled passionate people, technical innovations, and leading production, we are well-placed to capitalise upon it. We’re delighted to have found in Equistone an investor with not only a proven track record in supporting mid-market companies’ growth, but also an understanding of the importance of our proud history of premium quality and technical innovation to the Willerby brand’s success.”