Discovery Parks
Type of investment
Leveraged Buyout
Industry
Tourism & Accommodation
Intitial investment
December 2004
Allegro Management
Commenced September 2008
Investment status
Current
Website
www.discoveryholidayparks.com.au
Contact
Adrian Loader +61 2 8228 8787
Albert Farrant +61 2 8228 8778 |
Investment description
Discovery Parks is the largest owner/operator of caravan parks in Australia, with 31 sites across Australia serving the tourism, mining, and permanent accommodation sectors. Since Allegro assumed management of the company in September 2008, Discovery Parks has undergone a transformation.
After introducing new management and management systems, like-for-like EBITDA has increased by 25% and Debt-to-EBITDA has reduced from 11x to around 8x, despite significant headwinds in the tourism and mining sectors.
In December 2010, Discovery was recapitalised by a group of Australian institutional investors, including Allegro Fund I, providing a platform for the company's next stage of growth and development. Allegro is represented on the Discovery Board by Adrian Loader (Director) and Albert Farrant (Alternate Director).
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