Law firm Eversheds has advised ECI Partners on the secondary management buy out of premium rail travel company Amber Travel from Primary Capital, valuing the business at over GBP50m.
Amber Travel is a leading player in the specialist rail tour industry, offering escorted group holidays to destinations around the world. Operating three brands and with a combined turnover of GBP67m, the company is expected to continue to grow strongly under ECI ownership.
ECI is a UK-based growth-focused mid-market private equity firm with an extensive travel portfolio. Chris Watt, head of ECI’s consumer team, and George Moss led the transaction for ECI, with Watt to sit on the board of Amber Travel.
The Eversheds team was led by corporate partner Richard Moulton, with support from banking partner Nigel Dale and corporate senior associate Mark Saunders and associates Adam Martin and Adam Griffiths. The team advised ECI on all legal aspects of the deal.
Moulton says: “Amber Travel has carved out a niche place in the market; combining excellent customer service with exciting locations enabling the business to lead the UK market for premium rail tours. This is the second travel sector acquisition we have advised ECI on and the company will complement ECI’s existing portfolio and benefit from the wealth of experience that ECI have in the travel sector.”
Watt says: "This is a business with a highly differentiated proposition that appeals to the culturally interested traveller. Amber caters for an affluent, growing demographic, that wants to see the world. We are very excited about the prospects for continuing growth at the business. The advice and support provided by the Eversheds team helped us in delivering a successful transaction in a tight timeframe."
