Rollits advises TD Travel on MBO
Rollits has advised the management team on a managementbuy-out of TD Travel Limited in a deal backed by private equityfirm LDC.
TD travel was established over 25 years ago and is one of theUK`s leading independent travel agents, specialising inpersonalised business travel consultancy and booking services. TDTravel has offices in Hull, Leeds, Cheshire and Merseyside. Thecompany employs over 60 experienced consultants to serve its 500strong customer base of multi-national businesses across the Northof England.
The management team was led by Ian White, who joined TDTravel in 2005 as commercial director having previously been chiefexecutive of travel management company Corporate TravelInternational.
Other members of the management team involved in the MBO areChris Needham, former founder and chief executive of the hotelbooking provider Hotelscene, and operations director Chris Mollan,who has been with TD Travel for five years. Dick Porter, aco-founder of STA Travel and former chairman of Griffin Travel,will join the business as non-executive chairman.
Rollits` Corporate Partner, Nasim Sharf said:
"We were delighted to be asked by Ian White and hiscolleagues to help them with this deal. This is a very excitingopportunity for TD Travel who have ambitious expansionplans."
The legal team for the management was led by Nasim Sharf, andincluded Kate Dixon (corporate), Richard Field (banking), JulianWild (corporate finance), Tom Morrison (IP and commercial), CraigEngleman (share schemes and pensions) and Donna Ingleby and EdJenneson (employment).
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