Equistone invests in custom travel agency Audley Travel

Anneken Tappe
20 March 2012

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Equistone Partners Europe has acquired British custom travel agency Audley Travel.

The new capital will be used to support and expand the company's service range and drive growth.

Barclays and RBS provided the debt facilities for the deal.

Company
Audley Travel is a travel agency that offers tailor-made travel options covering 80 countries. It was founded by Craig Burkinshaw and John Brewer in 1996. It first operated under the trade name Asian Journeys.

In 2010, Audley generated revenues worth £63m, which is a 17% increase from the previous year.

The company is based in Oxfordshire and employs 170 people.

People
Phil Griesbach, director, led the deal on behalf of Equistone. Travel expert Richard Prosser will join the founders as chairman of the board.

Advisers
Equity - Pinsent Masons (Legal); Deloitte (Corporate finance, financial due diligence, tax); Marlborough Partners (Debt advisory); Marsh (Insurance due diligence); Intuitus (IT due diligence).
Company - BDO Corporate Finance (Corporate finance, financial due diligence, tax); PwC (Commercial due diligence); Blake Lapthorn (Legal).