Investment deal secures 300 jobs at three Shropshire hotels and leisure centres
A finance deal has secured the jobs of almost 300 people at a hotel and leisure group near Oswestry.
Investment from private financier, Rcapital, has enabled the Dulson family, which built the Lion Quays, the Lord Moreton and Moreton Park, to buy out the RBS bank's equity department, West Register.
The injection of cash for the Shropshire Leisure Group is, the family says, good news for the area and its employees.
Nick Dulson, managing director of Shropshire Leisure Group Ltd, said: "Pressure from banks in the last four years has prevented us from successfully running the business as we'd like.
"The decision to form a partnership with Rcapital, the London-based investor, is part of a broader long-term plan to expand and develop the group.
"The move has secured the jobs of our 276 employees and is a positive development for the Shropshire community.
"We can now all look forward to the bright future of Shropshire Leisure Group Ltd."
Leading the management team are Derrick and Nick Dulson who established the business in 1998 after Derrick Dulson moved into the hotel and leisure industry after building houses and retirement complexes in the area since the 1960s.
Andrew Charter, from the Gambit Corporate Finance company, which advised on the management buy-out, said the Shropshire Leisure Group was an impressive company with high quality hotel and leisure facilities.
"The transaction is the second significant leisure deal the Gambit team has completed in almost as many months, following the management buy-out of Bluestone Resorts Limited in Pembrokeshire in July," he said.
Shropshire Leisure Group includes the Lion Quays Waterside Resort, an 82 bedroom 4-star hotel, a five-star spa and country club, a selection of restaurants and wedding and conference facilities; Lord Moreton, a large family restaurant and pub with an adjoining 45 bedroom three-star motel; and Moreton Park, a 24-acre garden centre.
