Western & Oriental buys villa business

Luxury travel group Western & Oriental has added a European villa offering to its business after buying Villa Select in a cash and share deal. The initial consideration is some £2.4 million, with a deferred sum due equivalent to the pre-tax profits of the business next year, if agreed targets are achieved.

Western & Oriental acquired the Warwickshire-based company that rents luxury villas across the Mediterranean as part of its strategy to consolidate the luxury travel segment of its market.

Although the vendors have retired from the business, co-founder Roger Ball has been retained as a consultant to help integrate the acquired company into Western & Oriental.

This deal follows Western & Oriental’s acquisitions in July of Eclipse Conference Management, for an initial sum of £3 million, and tour operator Key2Holidays.

Villa Select, which was founded by Roger and Pamela Ball in 1983, has a portfolio of 190 villas for rent in destinations such as Majorca, Menorca, and Javea on Spain’s Costa Blanca.

The company generated pre-tax profits of £400,000 in the year to November 2006 from a £5.8 million turnover.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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