Escorted holiday specialist Leger Holidays has announced that director Liam Race, finance director Andrew Oldfield and operations director Chris Plummer have acquired a 30% stake in the business.
The acquisition, which has been achieved with backing from NatWest, reduces the shareholding held by Ian and Kathleen Henry to 70%.
Commenting on the acquisition, in an announcement posted on b2b social network LinkedIn today, Liam Race says: “This is an exciting time for the business. We’ve seen a solid start to January with bookings for 2020 up 17%. As well as focusing on continual improvement to our customers’ holiday experiences we will be looking to grow sales through travel agents with additional presence in our on-the-road sales team.”
Travel Weekly reports Ian Henry as saying: “This transaction ensures that the business has the continued ownership of the Henry family but also brings on board the next generation of managers and owners meaning we can continue together to strengthen and grow the business over the coming years. I will remain active in the business, but as has been happening over the last twelve months, Liam, Chris and Andy will be leading us on a day to day basis.”
The Rotherham-based company is reported to have turned over nearly £35m in 2019.
Leger Holidays was awarded ‘Best Medium Coach Holiday Company’ at the British Travel Awards in 2016, 2017 and 2018.