Park Place Corporate Finance

Independent advice for the independently minded

Shearings

Management Buy-Out | Refinancing | Sale | Acquisition

Shearings

Shearings Leisure Group is one of Europe’s leading specialist operators of escorted tours and leisure hotels.  The business offers coach, air, rail, cruise and hotel breaks to more than 170 destinations in the UK, Europe and Worldwide serving over 1.1 million passengers per annum.  The company also operates 48 hotels throughout the UK.

In June 2014 the management team acquired the business in a MBO supported by Lloyds Banking Group ("LBG").  In August 2014 the company secured additional backing from Moorfield Group.  Moorfield was the investment property owner of the majority of the Shearings run hotel estates.  As part of this transaction Moorfield took a significant minority stake in the business and LBG provided enhanced debt facilities.

In 2015 Lone Star acquired Moorfield's interest in Shearings and in February 2016 they completed the acquisition of management’s majority equity shareholding.  This transaction, which brings the property and operating companies together under common ownership and management control, creates greater flexibility in Shearings operating model and means that its forward growth strategy is backed fully by a supportive and long-term investment partner.

In March 2016 Shearings acquired the specialist holiday provider Equalmatch Limited, which operates as Travelstyle and UK Breakaways, from its founder shareholders.

PPCF have acted as lead advisor to management and Shearings on the above transactions.

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