Livingbridge to acquire Love Holidays

A source confirmed the deal was expected to be announced in a matter of weeks, with the proposed transaction expected to value the business at around £180m, according to a report by Sky News.

Founded in 2012 and headquartered in London, Love Holidays provides holiday packages, including all-inclusive, self-catering and half-board stays.

The business has received backing from institutional fund managers before, with Charlotte Street Capital providing it with a £2m seed round in May 2011.

Love Holidays generated a turnover of £23.2m in the year ending in October 2016, according to publicly available documents, with EBITDA before exceptional costs of £2.5m. However, it has been growing at a fast rate, with the 2016 turnover up 60% and EBITDA up 41% year-on-year.

Livingbridge is currently investing from its £660m sixth flagship fund, which closed in September 2016. It previously invested in the online travel agents space by backing On The Beach, which it sold to Inflexion in 2013 for £73m.

According to Unquote sister publication Mergermarket, Love Holidays mandated PwC with exploring exit opportunities last year.

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• Topics
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