Travel company sells £11m subsidiary
TRAVEL company Travelstyle has sold its subsidiary to the Shearings Leisure Group.
National Holidays, part of Wigan-based Shearings, has acquired Equalmatch Ltd to consolidate its specialist holiday offering.
The Cheshire-based business Equalmatch turned over £11.9m for the year to 31 December 2015, slightly down from £12.8m in 2014.
It made pre-tax profits of £477,421, down from £853,601.
Travelstyle Tours operates under the Travelstyle and UK Breakaways brands, providing coach and self-drive holidays to the UK and Europe.
The deal sees two Equalmatch shareholders exit the business with the third remaining in a senior role.
Chris Dale, Mazars corporate finance manager said: “We were delighted to work with the Travelstyle Directors and Shareholders and support them on this transaction.
“The acquisition is a fantastic fit and helps National Holidays to strengthen its regional presence. We wish both companies all the best in the integration of the business”.
Equalmatch was advised by Oliver Hoffman and Chris Dale from Mazars Corporate Finance with legal advice provided by Debbie Jackson and Jon Wharam of Walker Morris. National Holidays was advised by Tim Simpson and Ian Hale at Park Place Corporate Finance and Garry Elliott and Luke Aylett of Addleshaw Goddard with respect to the transaction.
