Holidaybreak buys education tour company
Article Date: Oct 01 2007A company that provides activity holidays throughout Europe has bought educational tour organiser NST. Holidaybreak acquired the company, which organises group holidays for schools and colleges throughout the UK and Ireland, for £47.2 million.
The acquired business will become part of Holidaybreak’s educational division, which provides residential, outdoor education and adventure trips for more than 250,000 children each year. The division was established earlier this year following the acquisition of PGL.
The deal will allow Holidaybreak to expand its offering to schools, colleges, teaching staff and students. NST was sold by the founder’s sons, chief executive David Craven and company secretary John, as well as other family members and management.
Following the completion of the deal, Holidaybreak is expecting to free-up £3.25 million from a sale and leaseback of NST’s head office in Blackpool.
NST, which was established in 1967, carries 172,000 students and education staff on more than 4,000 trips each year to destinations around the world including media studies tours to Los Angeles and literature visits to First World War battlefields.
Last year it made a pre-tax profit of £100,000 from turnover of £45.7 million.
