I am delighted to have secured Kings Park Capital as my partner and am excited for the new chapter in Just Go! Holidays’ history.
Kings Park Capital LLP (‘KPC’), an independent private equity firm dedicated to investing in the European leisure sector, has taken a significant equity stake in Just Go! Holidays (‘JGH’) alongside the Company’s CEO, Luis Arteaga. The Royal Bank of Scotland Corporate Transactions team provided a senior debt package in support of the transaction.
JGH is an independent tour operator providing group holidays to the over 50s demographic. The Company offers a collection of coach, air and cruise holiday products, approximately 80% of which are in the UK. Since 2011, it has had an official partnership with the National Trust, giving it unique access to the Trust’s membership base and historic sites across the UK. The Group also offers inbound group holidays to the American market through its “Albion Journeys” brand.
Founded in 1996, the Group is based in Cheltenham, Gloucestershire and employs 61 people. In 2015, JGH’s holidays were taken by 76,000 passengers, generating turnover of nearly £20 million.
JGH aims to capitalise on its favourable positioning towards the fast-growing ‘third age’ demographic, who have become the biggest consumers of holidays in the country over the last decade, and is well-positioned to benefit from the favourable staycation trend.
Luis Arteaga, JGH’s CEO, said: “I am delighted to have secured Kings Park Capital as my partner and am excited for the new chapter in Just Go! Holidays’ history. Our vision is to continue expanding the business’s holiday offering through new destinations and further product innovation, whilst building upon our collection of valued strategic partnerships both in the UK and in the US. I look forward to working together with KPC to accelerate the growth of the business.”
Artjom Dashko, Investment Director at KPC, said: “We are excited to have made a second travel investment in our latest Fund, and believe that in Luis and his management team we have found an excellent and capable partner to deliver on the vision of making Just Go! Holidays a leading group holidays player in the wider £40 billion UK leisure travel market, both organically, but also by making selective bolt-on acquisitions in this fragmented area.”
KPC was advised by Burness Paull LLP on this transaction. BDO and Armstrong Transaction Services provided financial and commercial due diligence services, respectively. The shareholders in JGH were advised by Roxburgh Milkins LLP.