TWO entrepreneurs are set for a major windfall after selling the holiday parks group that they built up over 20 years for £130m.
Jim Watson and Peter Bull began their Cinque Ports empire with a site near Rye in Sussex in 1985. It now owns 19 holiday parks along the east and south coast, with pitches for almost 10,750 caravans and chalets.
The business has been bought by private equity firm Graphite Capital, which is planning an "aggressive" expansion of its network of holiday villages.
It is bringing in its own management team to work alongside existing staff, including Mr Bull who is putting a "substantial" proportion of his windfall back into the business. Mr Watson has chosen to retire.
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