On the Beach has hired corporate finance house DC Advisory to lead a search for an investor, according to reports.
On the Beach prepares for sale
On the Beach has hired corporate finance house DC Advisory to lead a search for an investor, according to reports.
The Times reports that the online travel agency, which was founded by Simon Cooper, has an estimated £100 million price tag.
Cooper sold a stake in On the Beach to Isis five years ago after establishing the business in 1995.
He previously ran ski site On the Piste, which he sold to Tui Travel.
On the Beach’s non-executive directors include two travel industry heavyweights, both of whom are shareholders. John Donaldson, its chairman, is a former chief executive of Thomas Cook, while Dermot Blastland is a former managing director of Tui Travel UK and Ireland.
On the Beach, now based in Cheadle and employing 140 people, has grown rapidly on the back of significant investment in technology under Isis. Sales this year are forecast to hit £300 million, with underlying earnings reaching about £12 million.
