The new owner of Waterworld has spoken out following yesterday’s announcement that the Stoke-on-Trent aqua park has been sold.
M Investment Group, a family investment company founded by entrepreneur Mo Chaudry, released a statement yesterday afternoon confirming the sale after being approached by Daily Focus.
As reported, Mo and his family all resigned as directors of Waterworld Leisure Limited and Waterworld Leisure Group Limited on 31 July, days before a tragedy where a four-year-old girl passed away there.
Laurent Eugéne Jacques Bruloy, of Looping Group, became executive chairman of both companies.
Looping Group, a leading European operator of regional leisure parks including Drayton Manor theme park near Tamworth, has acquired Waterworld Leisure Group who operate Waterworld Leisure Resort.
While Mo will no longer be involved in Waterworld, he says he is excited about his next chapter going as far to say on social media that he is ‘far from finished in business’ and in many ways feels like he is ‘only just getting started’.
Looping Group has revealed that discussions between the two parties began over a year ago ‘with the shared vision of ensuring the long-term growth and success of this flagship attraction.’
Laurent, Looping Group Executive Chairman and Co-founder, said: “The deal was finalised on 31st of July and although Looping Group has been pleased to welcome the park in the Looping Group family, we have all been saddened by the recent tragic accident and extend our deepest thoughts and sympathy to the family of the young girl involved and stand by the Waterworld teams.
“We will continue to support the local community. I want to thank Mo for his trust and support — Waterworld has been a remarkable family success story that we are excited to develop further.”
Waterworld becomes the Looping Group’s fourth leisure attraction in England, the 22nd in Europe and the seventh waterpark in its portfolio.
A statement adds: “Waterworld will continue to grow and develop with the same entrepreneurial DNA and values that have taken the attraction from strength-to-strength under Mo Chaudry’s direction historically, and Looping intend to take the complex ever further.”
While the sale price has not been disclosed, the multi-million-pound deal has increased M Investment Group’s net assets beyond £110 million, with its business worth now exceeding £170 million, described as a ‘major milestone’.
Mo, who will no longer be involved in Waterworld, has said ‘the time is right to hand over the baton to Looping’ and that as chairman of M Investment Group his focus will be on driving its next phase of growth.
In a statement, he added: “I am excited about the opportunity to make a lasting impact on health and wellbeing, both in the UK and internationally. With the combined strength of M Club and Pulse Global Group, we are well positioned in the fast-growing fitness and wellness sector whilst continuing to build a world-class family investment group.”
Waterworld opened in 1989 with Mo taking over in 1999. Since then, the resort has doubled in size with continuous investment and expansion including the launch of facilities including indoor crazy golf and an indoor mini-village for little ones to enjoy.
Mo has said the jobs of Waterworld employees are secure.
- Read yesterday’s story about the sale here.
