US-based private equity company Blackstone Group has acquired Center Parcs for £205m.

Blackstone agreed to pay 80 pence per share for the holiday village operator which runs four sites in Nottinghamshire, Wiltshire, Suffolk and Cumbria.

Joseph Baratta, Blackstone’s managing director, said the company will be looking to develop the Center Parcs portfolio.

“We intend to fund the significant capital investment which Center Parcs requires to realise its growth potential,” he said.

“Additionally, Blackstone’s considerable experience in the leisure, hotels and resorts sectors will help develop the Center Parcs’ business.”

Martin Robinson, Center Parcs’ executive chair, said that the company had a number of financial and operational constraints which made the deal attractive.

“Due to these issues the board believes that this deal represented an opportunity for shareholders to realise their investments in cash.”

In a statement, Blackstone added that it was attracted to the takeover partly by the park operator’s future plans.

A spokesperson said: “We believe that Center Parcs’ strategy, including the Les Jardins de la Mer project in Jersey and the possible rollout of the Chapel Spa concept, has the potential to deliver value in the long term.”

Don Camilleri, Center Parcs’ director of development, added that there would be no immediate operational changes to the parks and that business at the four sites would continue as usual.

Last year, Center Parcs attracted around 1.5m visitors. Blackstone also owns the Legoland parks business and its leisure portfolio includes attractions operator Merlin Entertainments, the Wyndham International hotel group and the US-based La Quinta budget hotels. Details: www.blackstone.com