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Article: Travelsphere founders sell up in [pounds sterling]144m deal.
- Article from:
- Harborough Mail (Market Harborough, England)
- Article date:
- May 12, 2006
CopyrightCOPYRIGHT 2006 Johnston Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ONE of Harborough's largest employers, Travelsphere, has been sold to a private equity company for [pounds sterling]144m.
Electra Partners Europe, a buy-out firm specialising in complex deals, announced last Thursday it had backed the management buy-out of Travelsphere Group.
Travelsphere was set up in 1977 by Mike Edwards, Richard Mackay and the late Bruce Wake.
The founders sold their shares in the group last week as did HgCapital, which held a 40 per cent stake.
Yorkshireman Mr Mackay owns Kilworth House Hotel in North Kilworth where work has recently started on a new [pounds sterling]1.75million open-air theatre.
He said: ...