On The Beach ‘for sale for £100 million’

Online travel agency On the Beach has reportedly be put up for sale for £100 million.

The private equity firm Isis that backs the Manchester-based company is poised to hire corporate finance house DC Advisory to lead a search for a new investor, according to the Sunday Times.

Founder Simon Cooper sold a stake in On the Beach to Isis five years ago after establishing the business in 1995.

He remains as chief executive and a significant shareholder.

Cooper and his team are likely to stay with On the Beach if it is acquired by another equity buyer.

The company is thought to have made profits before interest, tax and other charges of about £10 million in the year to September.

The newspaper quoted unnamed analysts as suggesting that would probably lead to On the Beach changing hands for £80 million to £100 million.

The firm handles more than 750,000 holidaymakers a year.

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