Natwest funded 50% of the £30 million transaction, with the remainder covered by medium term shareholder borrowing.
The deal confirms that 12.7% of the company’s value will be ring-fenced to distribute to employees in the event of a future sale.
Acquisitions by the company in recent times include Chauntry Corporation and Purple Parking.
Matthew Pack, group chief executive of Holiday Extras, said: “Today marks an exciting milestone in Holiday Extras’ development as we set the stage for the future by strengthening the ownership and value of our business, and putting in place an exciting development plan for the next five years.
Holiday Extras completes MBO
Operators
Edward Robertson
16 May 2018
Travel extras specialist Holiday Extras has completed a management buyout which values the company at close to £100 million and places 55% of the company’s equity into an employee benefit trust.
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