Mo Chaudry confirmed he had sold the Stoke on Trent Waterworld Aqua Park in a deal which takes his family investment company’s net worth to more than £170 million.
Mr Chaudry, who was raised in Wellington and attended Wellington Grammar School and Telford College, has sold the Staffordshire-based attraction to European leisure giant, the Looping Group.
Earlier this month a four-year-old girl died at the water park, with an investigation currently ongoing into the circumstances surrounding the tragedy.
Mr Choudry had completed the deal for the park last month, in the days before the incident – with the attraction’s new owners in discussions for around a year before the deal was completed.
The exact value of the sale has not been disclosed, but it is believed to be in the region of millions of pounds.
The venue opened in 1989 and has become one of the most recognisable leisure attractions in the West Midlands, attracting millions of visitors.
Mr Chaudry, who is chairman of M Investment Group said: “Waterworld has been a huge part of my life and business journey and I am proud of everything we have achieved as a team.
“I am now handing over the baton to Looping, a world-class operator with the vision and expertise to take Waterworld even further ensuring the resort has an exciting future.”
The M Investment Group owns a diverse range of businesses including the premium fitness chain M Club Spa and Fitness and a majority stake in the international fitness solutions provider Pulse Global Group along with several other health and leisure ventures.
Mr Chaudry said: “It now allows us to focus squarely on our core strengths, expanding our gyms and wellness brands here in the UK and driving Pulse Group’s growth ambition.”
The Looping Group operates more than 20 leisure destinations across Europe.
