Print
	Email
	Text size
	Comment

Email a friend

Your email address:
Friend's email address:

 

A provider of specialist European holidays has cemented its position in the educational travel market after making a seven-figure acquisition.

Holidaybreak, which also arranges adventure travel, hotel and camping breaks, has bought Hertford Travel Group, the holding company of educational tour operator European Study Tours (EST), for more than £4 million.

Holidaybreak chief executive Carl Michel said the acquisition will allow the group to offer a wider range of tours. “Education is a key market for the group and our enhanced offering will increase the division’s growth prospects.”

Hertford was bought from David Campbell and William Sadler, principals of Banks Sadler, a meetings, corporate travel and events company. It was also sold by EST’s managing director Brendan Jones, who will lead the enlarged group’s higher education team.

EST will sit within Holidaybreak’s education division, which was created following the acquisitions of PGL and NST last year. EST will be merged into its StudyLink business, a provider of affordable group travel for university and college student groups.

Holidaybreak was advised by accountant BDO Stoy Hayward and law firm HBJ Gateley Wareing, with the vendors assisted by financial adviser INFINICOR, and legal advice provided by Royds.

EST was established in 1983 to provide bespoke travel and organise subject-specific conferences for higher and further education students. In the 12 months to September last year, the company made a £500,000 EBITDA from a £5.7 million turnover.

Comments [0]