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.
This esteemed business presents a unique opportunity for acquisition, boasting a long-standing reputation for manufacturing robust control valves serving various globally recognized industries. The company's stronghold is further cemented by lucrativ...
This is a rare opportunity to acquire a British OEM with a prestigious global customer base, supplying top-tier automotive, military, and motorsport sectors. The group boasts an impressive range of high-quality winches and bespoke engineering service...
A respected and well-established exhibition management business is available, known for its quality services and consistent performance.
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.