The sale of two niche UK operators has demonstrated a strong appetite for acquisitions from European travel businesses despite Brexit, according to a mergers and acquisitions specialist.
Cumbria-based Mickledore Travel, a self-guided walking holidays operator, was sold to KE Adventures, part of the French Voyageurs du Monde group.
Scottish company Rob Roy Tours was bought by Austrian-based groups operator, Travel Europe.
Both deals were secured for undisclosed sums.
Deborah Potts, director of Summit Advisory, part of accountancy firm Elman Wall, said: “We were delighted to introduce such strong buyers to our clients as part of two highly competitive sale processes and have a growing network of European travel companies keen to expand in the UK either because of, or undeterred by Brexit, depending on their agendas.”
Rick and Sonja Cooper, the founders of Abta and Aito member Mickledore Travel, added: “Summit Advisory’s advice was important helping us decide when to go to market, and their extensive contacts were instrumental in generating a healthy level of interest from the trade.
“The end result was a sale achieved within eight months of going to the market, at a healthy multiple, to a company we are sure will look after the staff and the brand.”
Klaus Frommel, founder of Rob Roy Tours said: “I am delighted to be working with Travel Europe – a hugely impressive major travel business which still retains a family ethos.”