Electra Partners, which manages the funds of the listed investment trust, Electra Private Equity, has bought holiday park operator South Lakeland Parks, marking the UK private equity firm’s second deal in the caravan park sector in the last three months.

The London-based firm said in a statement today that it will buy the Cumbria-based holiday park operator from White Ocean Leisure and its lenders for £47 million, comprising £22 million of equity from Electra in addition to debt financing from Investec.