SENIOR management at the Hoseasons Holiday Group have
carried out a management buyout of the group from owners ECI Partners.
The deal, conducted with the backing of venture
capital firm HgCapital, values Hoseasons at up to £40 million.
Hoseasons will continue to operate out of Lowestoft
and Ken Gaylard will continue as managing director until his retirement within
the next 12 months. An announcement on his successor will made in the near
Travel trade director Yvonne Borg, marketing director
Tim Fullam, and financial director Paul Temple will carry on as executive
directors, and Ron Haylock will remain as chairman. HgCapital’s Jeremy Sharman and Richard Mathews will also join the
The company, which has seen
turnover reach over £120 million in the last three years, has assured the trade
it is “business as usual”.