Parkdean Resorts is reportedly in discussions with US capital investment company Centerbridge Partners to secure £250m of funding for “continued growth and sector consolidation.”

If completed, the deal would see Parkdean’s owner Onex push through a programme of expansion in order to deliver returns on the £1.35bn it paid to purchase the holiday park operator in 2016.

“The funding, which would be provided as debt, has yet to be finalised, with sources close to Parkdean saying on Friday that other parties remained interested in leading the deal,” reported Sky News.

“Sources said that if successfully concluded, Centerbridge would join Parkdean’s capital structure alongside Ares Management Corporation, its existing senior lender. The new financing would be used to strengthen Parkdean’s balance sheet, and provide headroom to fund growth by upgrading some of its existing parks.”

Though Parkdean has not commented on the specifics of the discussions, a spokesperson said: “Parkdean Resorts is running a process to strengthen the balance sheet, and to provide firepower for continued growth and sector consolidation.”

“We’ve had record trading over the summer peak, with 98 percent occupancy, and growth in both revenue and [earnings].”