Parkdean Resorts, the UK’s largest holiday park operator, today announces that it has agreed a refinancing of its senior debt with funds managed by Ares Management’s European Direct Lending strategy (“Ares”), well in advance of its facilities maturing in March 2024 and March 2025.

The agreement with Ares replaces Parkdean’s existing syndicated debt facilities with a single lender. With the support of Onex Corporation, its shareholder, Parkdean will accelerate its growth plans.

Steve Richards, Chief Executive Officer, Parkdean Resorts said: “We’re pleased to announce Parkdean Resorts’ successful refinancing, and are grateful for the long-term support we have received from our shareholder Onex and lender Ares, which is testament to the strength of our business and the broader outlook for the UK holiday park sector. The business performance is resilient, reflecting our good value self-catering proposition, and we look forward with confidence to a busy summer season, and the acceleration of our growth plans.”