Our Corporate Finance team have advised the shareholders of Ian Allan Group Ltd on the sale of their £50 million turnover travel business, Ian Allan Travel Ltd, to Clarity Travel Management Ltd, a wholly owned subsidiary of The Portman Travel Group, for an undisclosed sum.
Operating from sites in Shepperton and Bristol, and employing 80 staff, Ian Allan Travel has specialised, since 1964, in the corporate, academic and charity sectors, as well as leisure, event management and aviation tours.
Paul Allan, Chairman of Ian Allan Travel, said:
“Having traded independently for more than 55 years, the family felt the time was right for our company to find a new home within a significantly larger organisation, capable of providing additional support for the ever increasing demands of our customer base.
Throughout the extremely detailed and lengthy Due Diligence process, Kevin Paget and Pete Mills of Menzies were always on hand to guide us through aspects of the transaction that we were not familiar with. Their support was invaluable in negotiating our position and helping us bring the transaction to an early completion.”
Paul Allan – Chairman, Ian Allan Travel
Pat McDonagh, Chief Executive of Clarity Travel Management, commented:
“Ian Allan Travel is a long established and respected business and we see this as a complementary move for both of us. We believe that through both businesses we have the best talent, quality, innovation and solutions for our customers.”
Pat McDonagh – Chief Executive, Clarity Travel Management
Kevin Paget, Corporate Finance Director at Menzies, said:
“Following our previous work with longstanding client, Ian Allan Group, we were pleased to advise the shareholders on the structure and terms of the transaction. As an established family-run business, the directors were keen to protect the interests of employees at the same time as achieving a strong valuation. Going forward, the deal has provided a secure and sustainable future for the business with the right scale and reach to ensure its success.”
Kevin Paget – Director, Corporate Finance, Menzies
Tim Matthews, Matt Devine and Ian McDonald of Barlow Robbins solicitors were instrumental in advising the vendors on the transaction and worked tirelessly to meet the completion timetable.
About Menzies Corporate Finance
We take a quality driven, proactive and personal approach to advising transactions. Our corporate finance team will provide you with director-level advice and support, while working alongside other Menzies employees from the wide ranging skill set that is readily available within the firm to ensure that the advice we give encompasses all your needs.