Corporate Restructuring and Debt Advisory
Guidance for management teams to optimize business outcomes.Corporate Restructuring and Debt Advisory
LONDON, – Duff & Phelps, the premier global valuation and corporate finance advisor, today announces that it has completed the sale of the tourist attraction Fantasy Island as a going concern for an undisclosed sum to Mellors Group, the international leisure group.
Its ownership of the 41-acre freehold property is expected to transform the current leisure offering, which already delivers record-breaking roller coasters and Europe’s largest seven-day market, as well as 340 static caravan pitches.
Benjamin Wiles and Paul Williams were appointed Joint Administrators of Fantasy Island on 4 August 2014. After completing an extensive operational turnaround, Fantasy Island traded successfully under the supervision of the Administrators, enabling the site to benefit from significant investment which directly improved both visitor experience and financial performance. This strong trade has ensured the longevity and future of Fantasy Island through a sale as a going concern.
Benjamin Wiles, Managing Director commented: “Fantasy Island is an important local leisure destination attracting up to 40,000 visitors a day in the high season. It is a significant contributor to the local economy and key local employer. I am therefore delighted that the Duff & Phelps team has successfully delivered a turnaround and sale. Our work has achieved the optimal outcome for creditors and secured a long-term future for Fantasy Island and the local economy.”
James Mellors, Managing Director of the Mellors Group said; “It is a very exciting time for our company as we have seen strong growth in our events business throughout the region and abroad. We pride ourselves on delivering the very highest standard of attractions and we have some very interesting investment plans and new rides for Fantasy Island in the near future.”
About Duff & Phelps
Duff & Phelps is the premier global valuation and corporate finance advisor with expertise in complex valuation, dispute and legal management consulting, M&A, restructuring, and compliance and regulatory consulting. The firm’s more than 2,000 employees serve a diverse range of clients from offices around the world. For more information, click here.
M&A advisory and capital raising services in the United States are provided by Duff & Phelps Securities, LLC. Member FINRA/SIPC. Pagemill Partners is a Division of Duff & Phelps Securities, LLC. M&A advisory and capital raising services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd., which is authorized and regulated by the Financial Conduct Authority.
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Following an accelerated M&A process, Duff & Phelps sold the business and assets to Reynolds Catering Supplies Limited in a transaction which preserved the jobs of all 62 staff.
As Administrator, Duff & Phelps sold majority of the business and assets to Hilding Anders Holdings Limited, saving the jobs of over 100 employees.