UK-based private equity firm Candover has acquired Spanish theme park operator Parques Reunidos in a deal believed to be worth more than 900m euro (£590m, US$1.1bn).

The funding package to acquire the parks was set up by Candover, with UK-based Bourne Leisure and the management team of Parques Reunidos – lead by chief executive Richard Golding – also investing in the new equity structure.

Marek Gumienny, managing director of Candover, said: “Parques Reunidos is a unique business and the group’s parks are well invested and among the finest in Europe.

“This deal also marks our renewed partnership with Bourne Leisure and we will seek to double the size of the Group over the next few years.”

Parques Reunidos is the third largest European operator of attractions and theme parks. The Group currently operates 22 parks in six countries, including the Mirabilandia theme park in Italy, Bobbejaanland in Belgium and the L’oceanogáfic aquarium in Valencia, Spain.

Richard Golding said: “We seek to continue building our portfolio of attractions across Europe and possibly even further afield.

“As a business, we are continuously examining new acquisition opportunities in what is a highly fragmented market.

More than 9.2 million people visited the group’s attractions during 2006, with consolidated sales topping 190 euro (£125m, US$245m).