Maven Capital Partners has led the GBP6.9m MBO of Attraction World, a Birmingham-based provider of tickets for tourist attractions.
The new funding package will be used to further develop the business, including support for the roll out of the company’s products and services into Germany.
Whilst the travel industry has experienced a period of decline during 2008 and 2009, Attraction World has seen revenues increase significantly.
Attraction World was founded in 1996. Since 2004 the company has placed a greater emphasis on developing its online offering and systemised transaction process, which has contributed to an increase in its web-based revenues from just five per cent of overall sales to 85 per cent in 2010, with almost 75 per cent of revenues coming from major travel agent chains.
The business has exclusive trading partnerships with key UK travel organisations such as Thomson, Thomas Cook, Co-op Travel and First Choice.
Paul Stobbs, managing director of Attraction World, says: “We are delighted to have completed the management buyout of Attraction World. Our business has grown rapidly over the last four years and we are now well placed, as the UK’s leading theme park and attraction ticket provider, to see considerable further growth in the years ahead. The investment from Maven will allow us to accelerate our growth strategy and management are delighted to be backed by an equity provider which quickly saw the opportunity to establish Attraction World in new markets.”
The Maven investment was led by Birmingham-based partner Andrew Ferguson, who adds: “Maven continues to look for solid businesses in which to invest and Attraction World represents an attractive opportunity to support a company that has demonstrated year-on-year growth with excellent cash generation. The highly capable and motivated management team has established a business that not only has a technological advantage over its competitors, but also a strong client base including some of the biggest names in the UK travel industry.”
