DTE Corporate Finance advised Prospects Services Limited on the sale of South Cerney Outdoor to management team
26th July 2019, 1:50 pm
DTE Corporate Finance acted as advisers to Prospects Services Limited, part of the Shaw Trust Charity, on the sale of South Cerney Outdoor, an outdoor water activity centre based in Gloucestershire, to the incumbent Management Team, led by Matt Pritchard, for an undisclosed amount.
Prior to the sale, South Cerney Outdoor was owned by Prospect Services Limited, which acquired the site from Gloucestershire County Council in 2012. As one of the oldest and deepest lakes in the Cotswold Water Park, South Cerney Outdoor has a wide range of activities for individuals, groups, schools, colleges as well as corporate organisations with an educational and development slant to its activities.
The Management Team at South Cerney Outdoor were keen to buy the business as part of their 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.
The sale of South Cerney Outdoor has delighted the staff, who are highly qualified and experienced instructors at the centre.
Andy Humphrey, Corporate Finance Director at DTE, commented “It has been a pleasure to again work with a business within Shaw Trust, helping to align their purposes and values to their business activities. In particular, this transaction was worth investing in, given the aspirations of Matt and his team”.
Chris Luck, CEO of Shaw Trust, 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.”
Caroline Litchfield, Corporate Partner at Brabners, acted as legal adviser in the deal.