Directors at Rotherham-based tour operator Leger Holidays conclude a 30% management buyout
Leger Holidays’ Commercial Director Liam Race, Finance Director Andrew Oldfield and Operations Director Chris Plummer have completed a £30m deal to purchase a 30% share of the business.
The deal leaves current owners Ian and Kathleen Henry holding 70% of shares, with Mr Henry continuing his role as CEO. But the day-to-day running of the business will be mainly led by the three Directors.
Mr Henry says: “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 12 months, Liam, Chris and Andy will be leading us on a day to day basis.”
Mr 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.”
The buyout was supported by NatWest. The bank’s Relationship Director Andy Croasdell says: “It’s an exciting time for Leger Holidays as the business embarks on this new era of its development. The management team led by Liam, Andy and Chris is in a strong position, and we wish all involved every success for the future.”
