Holidaybreak has plans to raise £31m from shareholders through a rights issue in order to expand PGL, its outdoor education business.
Holidaybreak bought PGL ('Parents Get Lost') for £100m two years ago. It has 18 centres in Britain, eight in France and one in Spain. The holiday operator aims to buy an additional eight to ten centres in the UK.
Chief executive Carl Michel is currently considering purchasing a leisure and education complex in the West Country and a conference centre in London. Small private schools are also potential acquisitions as they are closing at a rate of one every fortnight.
PGL runs classes for between 30 and 40 pupils each, and combines classwork with activities such as archery, canoeing, and rock climbing during April to June.
PGL also operates adventure holidays for families in the summer break from school.
Mr Michel says the education division has not been impacted by the recession.
Holidaybreak, which also organises holiday packages to the UK and Europe, was founded in 1973 as Eurocamp Travel Limited. A family-run business situated in Cheshire, it provided camping holidays in Brittany. After several acquisitions through the years, it now runs more than 15 brands including Superbreak, Rainbow Holidays and West End Theatre Bookings.
