MANAGING director Terry Vose has led a management buyout (MBO) at the Moness Resort in Aberfeldy, Perthshire, in a deal thought to be worth more than £10 million.
Vose bought the development – which features a 26-bed hotel, 108 self-catering cottages and a leisure centre – from Geoff Siden, although a spokesman for Moness declined to reveal the price he had paid.
Siden and Vose have worked together since 1991 at Worldwide Leisure Group and its predecessor, Paradise Group. Vose, who has been managing director at Moness since 2008, said that he will create ten jobs following the MBO “as the management and accountancy function is repatriated from Worldwide Leisure’s operation in Bournemouth”.
The company already employs more than 70 staff.
Vose added: “Vose added: “Geoff Siden and I have worked closely in the senior management of Moness for many years.
“I have learned a great deal from him and pay tribute to the energy and enthusiasm he brought to the business. We shall be continuing to invest in the resort and look forward to welcoming new colleagues in the coming months.”
Siden will remain as a director at Moness for the next 18 months, while Steven McKenzie – managing director at Acumen Accountants & Advisors – has also been appointed as a non-executive director.
Accounts for Worldwide Leisure Group filed at Companies House showed that turnover at Moness rose by 22 per cent to £1.3m in 2011, the last year for which figures are available.