Holidays operator expands into African market following acquisition

 Manchester-based First Class Holidays, with support from PHD Industrial Holdings, has acquired London-based The Knavesmire Travel Group, trading as African Pride and Knighton Reeve, in a multimillion-pound transaction.

African Pride and Knighton Reeve are bespoke holiday providers specialising in tailor-made holidays to African destinations including South Africa, Kenya, and Tanzania.

With more than 25 years in the industry, they have established a trusted reputation as one of the UK’s leading African travel specialists, serving an extensive network of UK travel agents.

Their team brings more than 200 years of combined expertise, using this knowledge to customise holidays to meet travellers’ specific needs and ensure a seamless experience from booking to journey’s end for both clients and agents.

This acquisition represents a significant milestone in First Class Holidays’ ambitious growth strategy to become a leading provider of global, long haul, tailor-made holiday experiences.

The group has already expanded its offerings this year with the launch of Japan and South East Asia as new travel destinations, underscoring its commitment to broadening its reach in the luxury travel market.

The founders of African Pride will continue to play a key role within the organisation, working closely with the First Class Holidays team to integrate operational best practices, while the African Pride and Knighton Reeve brands will retain their distinct identity within the portfolio. 

Dan Gathercole, managing director at First Class Holidays, said: “Our acquisition of African Pride reflects the determination of the First Class Holidays team to grow and acquire, strengthening our current offering and market position. We’re grateful for the continuing support from PHD Industrial Holdings over the years, and we look forward to this next stage of growth for the team.” 

Liz Hall, co-owner of African Pride, said: “Working with Dan and the team to get the acquisition of our business over the line has been great.

“Making the decision to sell our business was a big one – First Class Holiday had a similar vision and alignment, which made us feel at ease.

“We trusted Dan throughout the whole process, and we’re excited to see how the combined team takes African Pride from strength to strength.”

Andy Dodd, director at PHD Industrial Holdings, said: “The travel industry is one that has struggled across the board over the last couple of years. We have worked closely with Dan and the team to support First Class Holidays since our initial investment almost a decade ago.

“With PHD’s support, First Class Holidays has invested in its staff and operations, putting them in a position where they can now acquire new businesses and continue to grow.”

PHD Industrial Holdings, which is based in Daresbury, operates a ‘corporate compounder’ model which, unlike private equity, enables it to invest for the long term without having to sell businesses every few years to return funds to investors.

The group now has turnover of more than £70m and in excess of 350 employees.

First Class Holidays was advised by: Jonathan Robinson, Rosie Spencer, and Anthea Nelson at DWF (legal advice), Christopher Photi at White Hart Associates (regulatory advice), Rob Dawes at MHA (financial and tax due diligence advice), Daniel Blake and Peter Warbuton at Vista Insurance (insurance due diligence advice).

African Pride was advised by: Martin Alcock and Wilf Watkins at Travel Trade Consultancy (lead advisory services).