Exponent picks up Big Bus Tours

The deal comes after a competitive process, with the company hiring JP Morgan in October last year to find a buyer. In January, reports surfaced that a swathe of private equity firms were vying for the company, including Permira, Advent International and Omers Private Equity.

The value of the deal is thought to stand at around £220m.

The transaction provides an exit for Abu Dhabi-based conglomerate Al Fahim Group, which owned a 30% stake in the company.

Company
Big Bus Tours specialises in global sightseeing tours. It is active in 16 cities across three continents. It currently offers tours in Abu Dhabi, Budapest, Dubai, Hong Kong, Istanbul, Las Vegas, London, Miami, Muscat, New York, Paris, Philadelphia, San Francisco, Shanghai, Vienna and Washington.

Big Bus Tours operates a fleet of 300 buses and carries around 4 million customers each year.

The company was formed by the merger of London-based The Big Bus Company and Paris-based Les Cars Rouges in May 2011.

People
Pat Waterman is CEO of Big Bus Tours. Richard Lenane led the deal for Exponent.

Advisers
Equity – Macfarlanes (Legal); PwC (Financial due diligence).
Company – JP Morgan (M&A).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Buyouts
• Exponent Private Equity