Mon, 18 Apr 2011 | BUSINESS SALE
Coach holiday company, Shearings, has reportedly been put up for sale by its owners, with a rumoured price tag of around $40 million.
The owners of the company - London-listed private equity company, 3i - are said to have enlisted PricewaterhouseCoopers (PwC) to lead the search for a new private equity investor to back the existing management team in a buy-out.
The move comes less than a year after 3i first explored is options for selling the Wigan-based business, when it appointed advisors from Deloitte to lead the search for a new buyer for the company.
A source close to the companies said that PwC will begin its new auction process shortly and that there had already been a number of expressions of interest from potential backers. The source said, "Lots of potential buyers have been knocking on the door."
3i bought Shearings in 2005 in a buy-out from Bridgepoint Capital. The deal saw them merge Shearings with another coach travel company, Wallace Arnold. The company now operates a fleet of 250 coaches and a chain of 50 hotels.
The company is currently riding a wave of success that has been founded people seeking cheaper holiday options during the financial stresses of the recession. Just last month it announced a 6 per cent rise in bookings compared to last year, with record sales growth of 15 per cent at its value-focused brands National Holidays and Caledonian.
Operating internationally, the company offers the development, hosting, and maintenance of electronic document management software. The business provides maintenance contracts, licences, installation, and training for its software.
This well-established business excels in resin floor installation and repairs, alongside additional services like stainless steel drainage installations, catering to diverse sectors including engineering, aerospace, and healthcare across South West E...
The companies supply an array of gases to suit various applications, with the group’s offering comprising all types of argon, oxygen, acetylene, nitrogen, carbon dioxide, refrigerant gases, propane and butane.
LEASEHOLD
15
|
Sep
|
Mears Group acquires housing compliance firm in £9.5m deal | BUSINESS SALE
Pennington Choices Group Limited (PCL), a social housing com...
15
|
Sep
|
Future of Bristol sheet metal fabricator secured with acquisition | BUSINESS SALE
A longstanding sheet metal fabricator based in Bristol has b...
15
|
Sep
|
Materials handling firm acquires furniture skate manufacturer | BUSINESS SALE
BIL Group, a Wiltshire-based manufacturer of materials handl...
05
|
Dec
|
Caledonian Logistics calls in administrators | ADMINISTRATION
Inverness-based Caledonian Logistics has appointed administr...
12
|
Nov
|
Management take the wheel at coach tour firm LSG | MBO/MBI
The management team of battlefield, bridge and knitting coac...
11
|
Mar
|
Administrators exploring sale as modular builder collapses | ADMINISTRATION
Administrators are considering options, including a potentia...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.