Tailormade specialist operator Audley Travel has appointed advisors to assess its options, which could include an outright sale.
Investment company 3i bought a majority stake in the tailormade specialist in 2015, since which it has added more product, expanded in the US and invested in new technology.
Audley confirmed this week that 3i has now appointed Baird as an advisor to help it in ‘determining and assessing its strategic options as it plans for the next stage of its growth’.
While no decision has been taken yet, it said this could lead to a sale or 3i continuing to hold the asset.
It released the statement to Travel Gossip after Travelopia announced that it had put a number of its brands up for sale.
Delegates attending a Leaders in Travel summit hosted by travel accountancy firm Xeinadin on Thursday (17 October) heard that now could be a good time to sell, as investors are showing renewed interest in the travel sector after three years of steering clear.
Luke Johnson, co-founder of Risk Capital Partners, which took a majority stake in villa specialist Simpson Travel earlier this year, said he’d heard investment banker Goldman Sachs was amongst those looking to buy.
“You don’t get much cleverer than Goldman Sachs, so if they’re looking to invest in the sector, that’s got to be good news,” he told Travel Gossip. “I heard from an investment banker they were interested in buying something, but it will be a big acquisition, not something the size of Simpson.”
Deborah Potts, Director of Xeinadin’s mergers and acquisitions arm Summit Advisory, agreed activity is returning to the market, adding that there had been a ‘real rush’ to get deals over the line before a potential increase in capital gains tax is announced by the Chancellor in her Budget on 30 October.
Recent deals include the sale of London-based Blue Cube Travel to Israeli group Talma Travel Solutions, which was concluded this week; Martin Randall Travel, sold a majority stake to private equity firm Piper in August; and finance company Soho Square capital invested in Newmarket Holidays earlier this month.
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Investment company 3i bought a majority stake in the tailormade specialist in 2015, since which it has added more product, expanded in the US and invested in new technology.
Audley confirmed this week that 3i has now appointed Baird as an advisor to help it in ‘determining and assessing its strategic options as it plans for the next stage of its growth’.
While no decision has been taken yet, it said this could lead to a sale or 3i continuing to hold the asset.
It released the statement to Travel Gossip after Travelopia announced that it had put a number of its brands up for sale.
Delegates attending a Leaders in Travel summit hosted by travel accountancy firm Xeinadin on Thursday (17 October) heard that now could be a good time to sell, as investors are showing renewed interest in the travel sector after three years of steering clear.
Luke Johnson, co-founder of Risk Capital Partners, which took a majority stake in villa specialist Simpson Travel earlier this year, said he’d heard investment banker Goldman Sachs was amongst those looking to buy.
“You don’t get much cleverer than Goldman Sachs, so if they’re looking to invest in the sector, that’s got to be good news,” he told Travel Gossip. “I heard from an investment banker they were interested in buying something, but it will be a big acquisition, not something the size of Simpson.”
Deborah Potts, Director of Xeinadin’s mergers and acquisitions arm Summit Advisory, agreed activity is returning to the market, adding that there had been a ‘real rush’ to get deals over the line before a potential increase in capital gains tax is announced by the Chancellor in her Budget on 30 October.
Recent deals include the sale of London-based Blue Cube Travel to Israeli group Talma Travel Solutions, which was concluded this week; Martin Randall Travel, sold a majority stake to private equity firm Piper in August; and finance company Soho Square capital invested in Newmarket Holidays earlier this month.
The post Audley Travel considers sale as investors return to sector appeared first on Travel Gossip.
Continue reading...
