Turley Legal Advises Former Owners of Blair’s Holiday Parks on Landmark Private Equity Deal

Colin Mayrs of Blair’s (centre) with Esmond Greene (left) and Peter Garvey of Melior Equity Partners.

A DUBLIN-based private equity firm has acquired the majority stake in the north coast holiday park company Blair’s.  

Blair’s Holiday Park portfolio currently includes three parks in Portrush and a fourth site on the Lough Neagh shore in Antrim.  Founded in 1978 by the late Tom Blair, the business is now headed by his nephew Colin Mayrs. The deal will see Mr Mayrs retain an equity stake and continue as managing director for an interim period.

Mr Mayrs, who co-owns the business with his cousin Kathryn Brown, said the deal secures the future of the business.

“I have built the business over 20 years, and now feel it’s the right time for new investors to take the reins,” he said.

John Turley, Managing Director of Turley Legal, said:

"It’s a privilege to have played a key role in this landmark transaction, which marks an exciting chapter for the North Coast's tourism sector. The confidence shown by private equity investment in the region highlights both the economic appeal and the potential for growth here. Navigating the complexities of this transaction within a tight timeline was no small task and I want to thank our team for their hard work and dedication throughout the process.  It was a pleasure working alongside Colin and Kathryn and we wish them the very best for the future”.

Tim Gibson, the former managing director of Haven, one of the UK’s largest holiday park businesses, has been named as Blair’s new chairman. Mr Gibson is also former executive director of Away Resorts, a private equity backed, rapid growth holiday park business.

Melior Equity Partners said it plans to expand the business by acquiring new sites around the north. Set up in 2019, Melior Equity Partners is led by the former Irish managers with investment giant Carlyle Group.

Peter Garvey, who co-founded the investment firm with Jonny Cosgrave, said the deal followed 18 months of discussions with Colin Mayrs.

“Blair’s has an excellent team who create a wonderful environment for our loyal customer base. We are very excited by the fact that we will have the full support of Colin and his leadership team as we introduce additional talent, including our new chairman, Tim Gibson, to drive the business to the next level.” Mr Gibson added: “Colin and his team have built something special through an innovative and entrepreneurial approach and a dedication to fantastic customer experiences.  “I look forward to leveraging my experience in the sector, in both privately owned and private equity backed businesses, to work with the team and Melior to take the business to the next level.”

Blair’s were advised by Turley Legal, McKees and HNH while Melior was advised by Tughans, Grant Thornton, Burness Paul and KPMG.