Take-private MBO for Anite Travel backed by LDC

A management buy-out worth £45 million has been closed by Anite Travel, the travel business of public company Anite.

Private equity investor LDC has backed the management team of Anite Travel in its move to separate from its parent company.

Anite Travel serves as a reservation system for well-known tour operators such as Thomas Cook and TUI.

The business will now be run as an independent venture, headed up by the current management and managing director Mike Kingswood.

The £45 million management buy-out (MBO) came about due to parent company Anite’s strategy to focus on the company’s wireless test services offering.

Kingswood comments, ‘I am delighted to have secured an independent future for Anite Travel. The business has achieved considerable success in recent years and I am confident that with support from LDC, we can accelerate the development of our business for the benefit of our customers, employees and stakeholders.’

More on 2014 LDC news:

Anite Travel now joins a growing travel and leisure sector portfolio at LDC, which also includes Forest Holidays and D&D London.

The funds secured through the deal will go towards investing in product development, expanding into new markets and bolt-on acquisitions. Anite Travel, located in Slough, currently has 160 staff.

John Harper, investment director at LDC, adds, ‘With the rebound in the economy, the travel industry is set for renewed growth and Anite Travel is well positioned to capitalised on this trend and to help drive the sector’s performance and profitability through continuing to develop and deliver best-in-class reservation solutions.’

LDC’s backing of Anite Travel’s buy-out takes its 2014 deal count to eight – with the firm injecting £500 million of growth capital over the last 18 months.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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Management buyout