Corporate News

LDC backs £45million MBO of Anite plc's market leading travel business Anite Travel

LDC has agreed to back the £45million MBO of Anite Travel Limited, the travel business of Anite plc. Anite Travel specialises in providing best-in-class reservation systems to Tour Operators such as TUI and Thomas Cook.

Anite plc’s stated strategy is to focus on developing its leading position in wireless test solutions, leading to the decision to solicit offers for Anite Travel.  Anite plc’s board chose LDC as the most appropriate backer for the MBO of Anite Travel as a result of LDC’s commitment to continue to invest and develop Anite Travel for the benefits of its customers, employees and shareholders.

The sale will see the business operate post the MBO as an independent entity run by the current management led by Managing Director Mike Kingswood.

Based in Slough, Anite Travel employs around 160 people and has been developing reservation systems for tour, cruise and ferry operators for over 30 years.

The company’s reservation systems directly address one of the travel industry's core challenges: to reduce costs and increase productivity while driving improved customer service and increased product flexibility.

Anite Travel has a broad array of corporate clients, including some of the largest European Tour Operators including TUI and Thomas Cook.  LDC’s support and investment will help the business fund product development, expand into new products and markets, and to supplement organic growth with bolt-on acquisitions.

LDC was advised by Oakley Capital Corporate Finance, PwC, Ernst & Young and CMS Cameron McKenna.

Mike Kingswood, Managing Director for Anite Travel, said: “I am delighted to have secured an independent future for Anite Travel.  The business has achieved considerable success in recent years and I am confident that with support from LDC, we can accelerate the development of our business for the benefit of our customers, employees and stakeholders.”

Chris Hurley, CEO at LDC, said: “We are delighted to back the MBO of Anite Travel and we look forward to working with Mike and his management team to support them execute a well-conceived growth strategy.  With the rebound in the economy, the travel industry is set for renewed growth and Anite Travel is well positioned to capitalise on this trend and to help drive the sector’s performance and profitability through continuing to develop and deliver best-in-class reservation solutions.”

Article Footnotes

Notes to Editors

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority
  2. LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
  4. LDC has a UK regional network of 9 offices.