Muckle advises Hays Travel on two strategic acquisitions
Lawyers in our corporate finance team have acted for Hays Travel, a longstanding client of the firm, in two separate acquisitions of Polka Dot Travel and Millington Travel.
The purchases take Hays Travel, which is headquartered in Sunderland, to nearly 500 branches and over 4,500 employees in the UK and beyond. These are the latest acquisitions for the leading travel brand, following the acquisition of Victoria Travel Group earlier this year.
Signing on the (polka) dotted line
The Hays acquisition follows Polka Dot Travel’s co-directors – Helen Johnson, Philippa Wilcox, and Mark Johnson – decision to sell the business after it was founded nearly 12 years ago.
Polka Dot Travel, which has 15 branches and 74 employees across the north west, the midlands and north Wales, will continue to operate under the Polka Dot Travel brand, with no jobs at risk.
Jane Schumm, retail director at Hays Travel, said: “We are delighted to welcome Polka Dot Travel’s people to our Hays Travel group – their expertise, experience, and enthusiasm for travel are a significant factor in our decision to acquire the business from Helen, Philippa and Mark.”
In it for the long haul
Millington Travel’s owners Nick Bland and Nigel Armitage acquired the business in 2005, and have decided to step down.
Millington Travel, which specialises in bespoke long-haul and cruise holidays, will trade under its original name, and all 77 jobs across 14 branches in the midlands are said to be safe.
Pragmatic legal advice
Stephanie Brown, a partner in our corporate finance team, led the advice to Hays Travel, with support from Ben Evans, a solicitor in our corporate finance team. Deborah Lazenby and Beth Thompson from our real estate team provided property advice to Hays Travel on both of the acquisitions.
Stephanie said: “We are pleased to have advised Hays Travel in these strategic acquisitions, which demonstrate Hays Travel’s confidence and commitment to high-street travel. We look forward to seeing the Polka Dot Travel and Millington Travel teams continue to thrive as part of the wider Hays Travel group.”
Ken Campling, financial director at Hays Travel, said: “Thank you to Steph, Ben and the wider team at Muckle, whose pragmatic advice and commercial insight were integral to getting these deals done. We value having a trusted adviser by our side as we continue to grow the business.”
For more information, please contact Stephanie using 0191 211 7991 or [email protected].