Jones Day Reavis & Pogue's Peter Faber is well versed in advising his long-time client Peter Dyer in the etiquette of buyouts. Faber has acted for Dyer since the early 1980s, after Crystal Holidays was set up in 1981. Dyer then decided to sell the company to US-based Viad 10 years later, only for the founder of Crystal to launch a £150m management buyout (MBO) of the company in 1997, along with the transatlantic company's interest in Jetsave Tours and a plethora of other travel companies. On that deal, the MBO was backed by BZW, the former investment arm of Barclays Bank. Crystal Holidays was subsequently sold onto Thomson Holidays. On the most recent deal involving the buyout of Esprit Holidays, equity was provided by Barclays Capital advised by DLA. The value of this deal is undisclosed.