Thu, 27 Jan 2011 | BUSINESS SALE
A buyer has been found for Welsh firms Diamond Holidays and Brian Issac Coaches following their recent fall into administration.
Hundreds of holiaymakers were left in the lurch following the collapse of the firms - which were based in Swansea's Enterprise Park – earlier this month. A total of 77 jobs were lost following the administrations.
Now, Pontypridd-based Edwards Coaches has confirmed it has taken over the Diamond Holidays name for an undisclosed sum. It also said that it will be honouring future holidays bookings, providing reassurance for many customers.
Family-firm Edwards provides transport for Swansea City footballers to and from games across the country and had expressed its interest in Diamond Holidays early on.
An Edwards Coaches spokesperson said, “We will be contacting all the clients who have made reservations with Diamond Holidays or Brian Isaac so we can reassure them that we will do our utmost to ensure their holiday will be going ahead.”
PricewaterhouseCoopers, acting as administrators for both Diamond Holidays and Brian Issac Coaches, said that eight jobs had been saved across both companies following the takeover.
Jason Edwards, Edwards commercial director said, “Diamond Holidays offered a quality service to discerning customers and had a loyal client base. We have a similar product, operating the best coaches to the best hotels.
“Neither company compromises on quality and this is why customers from both entities will combine so well,” he added.
This is a unique opportunity to acquire two well-established B2B companies operating across multiple sectors throughout the UK, boasting strong client relationships and secure contracted revenues poised for further expansion.
LEASEHOLD
This is a unique opportunity to acquire a prominent company in a specialist sector with a high barrier to entry, offering integration potential and a cash-generative model with repeat revenue.
This business presents an enticing opportunity with established relationships with blue-chip organisations globally, a strong client retention rate, and the potential for relocation.
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