TRAVEL Counsellors is reportedly planning a sale or public float which could raise up to 200 million (A$346m) for the group’s private equity owners.
The Sunday Times says the UK-based company has appointed the investment bank Rothschild “to sell, float or refinance the business”, attributing the news to “city sources” in London.
“Travel Counsellors had revenue of 188m in 2016, meaning it would be worth between 150m and 200m in a sale,” the newspaper says.
The home-based agency group is owned by private equity firm Equistone and has about 1,700 agents in several countries, with its largest portion in the UK.
Its Australian division has about 140 members and last year outlined ambitions to increase its base to between 250 and 300 agents (TD 05 Jun).
Travel Counsellors was unable to comment by time of publication.
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Source: traveldaily