Tour Operator Acquisition in Spain and Portugal

The Challenge

The Group specialised in tour operating from the UK, primarily to Greece and Cyprus. Its strategy called for additional destinations, so it set out to acquire a specialist tour operator covering Spain and Portugal. The CEO requested consulting support to shortlist target companies and recommend the best strategic fit for the Group.

The Solution

Our Consultants worked in two phases, from market analysis through to the signing of the final agreement:

Phase 1 – Market Analysis & Target Selection
  • Analysis of the tourism market from the United Kingdom to the Iberian Peninsula
  • Identification of both the key players and the smaller specialist operators
  • Short list of two companies that formed the best strategic fit
Phase 2 – Negotiation & Acquisition
  • Approach to both companies and initial negotiations with their management
  • Selection of the most suitable company within one month, and signing of a Letter of Intent (LOI)
  • Commercial Due Diligence of the selected company
  • Support in the preparation and signing of the final acquisition agreement

The project was delivered as part of our Investment Consulting service, in line with the ESGM Methodology.

Results Delivered

The acquisition was completed and the Group gained direct access to two of the largest destinations for UK holidaymakers:

  • Acquisition of a specialist tour operator active in Spain and Portugal
  • Number of clients of the acquired company doubled within two years
  • Investment recovered within three years

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