Britain’s oldest private equity group 3i has leapt into the world of ‘experiential’ tourism by buying Audley Travel, the biggest player in the market for tailor-made travel.
3i will invest £159m into the business, acquiring it from fellow buyout firm Equistone. Other financial terms were not disclosed but Audley is forecast to expand sales by a fifth this year to £165m.
The company is only 3i’s second investment in the UK this year, illustrating how firms in busy buyout markets like Britain’s have become more selective in 2015 under pressure from record asking prices for assets,
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