Alcuin invests in On The Go Tours

Kenny Wastell
06 September 2018

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Alcuin Capital Partners has invested in UK-based travel agency On The Go Tours.

Financial details of the transaction remain undisclosed, though Alcuin typically writes equity cheques of £2-15m, and trade publication Travel Weekly reported that the GP has acquired a majority stake in the deal.

On The Go founders Jay Lakshman and Scott Braidwood will retain a stake in the business and remain on its board of directors following the deal.

The business will reportedly invest in product development and recruitment under Alcuin's tenure.

Unquote was awaiting a response to a request for comment from Alcuin at the time of publication.

Company
Headquartered in London and founded in 2000, On The Go provides escorted group tours and bespoke holidays with a focus on cultural activities. The business has additional offices in Brisbane and Johannesburg. It generated a turnover of £12.7m in 2016, according to publicly available documents, with an operating profit of £1.1m.

People
Alcuin Capital Partners – Adrian Lurie (managing partner).
On The Go Tours – Carl Cross (managing director).

Advisers
Company – BDO (corporate finance).
Equity – Taylor Wessing (legal); Armstrong (commercial due diligence); KPMG (financial due diligence); BDO (tax).