Leger Holidays has undergone a management buyout, and is looking to grow sales through travel agents.
Commercial director Liam Race, finance Director Andrew Oldfield and operations director Chris Plummer have bought the business with NatWest support.
They have acquired 30% of the escorted tour operator from Ian and Kathleen Henry in a deal which values the business in excess of £30 million.
The Henrys continue to hold a 70% shareholding of the Rotherham-based busness, and Ian Henry will continue as chief executive of the business.
Turnover for Leger Holidays in 2019 was £34.9 million.
Ian Henry said: “This transaction ensures that the business has the continued ownership of the Henry family but also brings on board the next generation of managers and owners meaning we can continue together to strengthen and grow the business over the coming years.
“I will remain active in the business but, as has been happening over the last 12 months, Liam, Chris and Andy will be leading us on a day-to-day basis.”
Race said: “This is an exciting time for the business. We’ve seen a solid start to January with bookings for 2020 up 17%.
“As well as focusing on continual improvement to our customers’ holiday experiences, we will be looking to grow sales through travel agents with additional presence in our on-the-road sales team to support Ashley Dellow.”