Rollits advises TD Travel on MBO

Rollits has advised the management team on a management buy-out of TD Travel Limited in a deal backed by private equity firm LDC.

TD travel was established over 25 years ago and is one of the UK`s leading independent travel agents, specialising in personalised business travel consultancy and booking services. TD Travel has offices in Hull, Leeds, Cheshire and Merseyside. The company employs over 60 experienced consultants to serve its 500 strong customer base of multi-national businesses across the North of England.

The management team was led by Ian White, who joined TD Travel in 2005 as commercial director having previously been chief executive of travel management company Corporate Travel International.

Other members of the management team involved in the MBO are Chris Needham, former founder and chief executive of the hotel booking provider Hotelscene, and operations director Chris Mollan, who has been with TD Travel for five years. Dick Porter, a co-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 his colleagues to help them with this deal. This is a very exciting opportunity for TD Travel who have ambitious expansion plans."

The legal team for the management was led by Nasim Sharf, and included Kate Dixon (corporate), Richard Field (banking), Julian Wild (corporate finance), Tom Morrison (IP and commercial), Craig Engleman (share schemes and pensions) and Donna Ingleby and Ed Jenneson (employment).

Posted on: 03/04/2012

This article is for general guidance only. It provides useful information in a concise form. Action should not be taken without obtaining specific legal advice.

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