Britains bigest online cruise travel agency to be auctioned

[Bill Y]

I notice in the Sunday papers it's reported that  " Lloyds private equality arm has put Britain's largest online cruise travel agency up for sale", as an auction is mentioned presume it's due to a default? what does it mean for rest the travel industry?

Edited November 26, 2023 by Bill Y

[lincslady]

I think the name has been made public?  I certainly knew which it was, probably from reading a paper.

[Snow Hill]

8 hours ago, Bill Y said:

I notice in the Sunday papers it's reported that  " Lloyds private equality arm has put Britain's largest online cruise travel agency up for sale", as an auction is mentioned presume it's due to a default? what does it mean for rest the travel industry?

It’s the process that a Private Equity Group such as Lloyds Development Capital undertake they invest in a company for a set time then at some stage will put it up for sale in order to realise their investment. Usually happens 8 to 10 years after the original investment. In this case they invested in the travel agency in 2015, so eight later they are looking to move the business on. This the way PE works, not a default on payment. I won’t link to the LDC portfolio in case this breaches rules, but you can find it via a well known search engine, but it does seem a success story. 

 

 

Edited November 27, 2023 by Snow Hill

[AndyMichelle]

1 hour ago, Snow Hill said:

It’s the process that a Private Equity Group such as Lloyds Development Capital undertake they invest in a company for a set time then at some stage will put it up for sale in order to realise their investment. Usually happens 8 to 10 years after the original investment. In this case they invested in the travel agency in 2015, so eight later they are looking to move the business on. This the way PE works, not a default on payment. I won’t link to the LDC portfolio in case this breaches rules, but you can find it via a well known search engine, but it does seem a success story. 

 

 

Exactly right Snow Hill. No story here. 

The time to be concerned would have been 2015 when the PE invested. 

They have probably stabilised the business and made it sellable again, it's their job. 

Either that, or they would have stripped the assets and dissolved the company, which hasn't happened. 

They will be hoping to sell it back to the industry, which is good news for everyone. 

Andy