JacTravel hires takeover specialist to manage interest

JacTravel hires takeover specialist to manage interest

The senior management of UK-based wholesaler JacTravel are being tipped to be in line for a £100 million windfall after receiving takeover interest.

The company backed by buyout firm Vitruvian, has hired investment bank Evercore to handle takeover approaches after spurning several offers in recent months, sources told the Sunday Times.

Vitruvian, a European investment firm that also owns part of flight search specialist Skyscanner, bought a 55% stake in JacTravel two years ago.

Its management owns 45%, meaning a potential deal could see its top bosses, including chief executive Terry Williamson, share out more than £100 million, the newspaper quoted insiders as saying.

Sources close to JacTravel said Evercore had been hired to manage bids, but played down the prospect of an immediate “formal process”. Vitruvian is in no rush to sell, they said.

JacTravel handles more than 2.5 million customers a year.

It reported underlying earnings of £19.8 million last year on turnover of £246 million, and is estimated to be worth more than £200 million.

The business was ranked number 119 in last month’s Sunday Times International Track 200, a list of the fastest-growing international firms.


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