WETB operated for four years under Holidaybreak’s Hotel Breaks Division. In this time WETB significantly increased turnover and operating profit. The sale of the business comes as Holidaybreak renews its focus on the education arm of the group as part of its longer term growth strategy.
Partner Daniel Hall led the Eversheds team acting on this deal and was supported by Senior Associate Alasdair Outhwaite and Solicitor Paul Keohane. The team provided corporate advice to Holidaybreak on the sale.
Daniel Hall said:
“The sale of WETB is a major transaction for Holidaybreak. Although the group and WETB have had a very successful relationship over the years, the sale of the company represents Holidaybreak’s focus on its growth strategy in the educational travel sector. The proceeds from this sale, which totals at almost 10 times the company’s EBITDA, will help to drive forward this strategy.”
Alex Williamson, Company Secretary at Holidaybreak, said:
“The Eversheds team’s patience and persistence was key to bringing this deal to completion. This is a very important step on our way to demonstrating the commitment to our strategy and the team have played an important part in that process.”
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