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| UK Businesses For SaleBowmark puts Education & Adventure on the market
25/03/2008
Bowmark Capital, the private equity group, has put its Education & Adventure Travel Group business on the market for a potential sale price of at least £100m.
Education & Adventure Travel Group specialises in organising and managing school holidays for British schoolchildren. The childrens' holiday company was put up for sale earlier this year by Bowmark Capital. The accountancy group PricewaterhouseCoopers (PwC) are managing the auction process. Second-round bidders in the auction include AAC Capital, Graphite, European Capital, Advent, CCMP Capital and the investment bank HBOS. Education & Adventure has grown steadily, as an increasing number of schools are choosing to outsource the management of trips and holidays for their pupils. Private equity firms are showing interest in the company as it is thought unlikely to be badly affected by any economic downturn. The company, originally called the School Travel Group (STS), was established in 1933 and is one of the UK's oldest school tour operators. Bowmark also bought Kingswood, which operates summer camps and organises adventure trips to the Lake District and the Brecon Beacons, in 2005. |
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