Shoosmiths has advised TTA (2007) Ltd on the sale of The Travel Network Group Ltd to a newly established company, TTNG Investments Ltd as part of an internal management buyout.
TTA (2007) Ltd is backed by Alcuin Capital, who specialise in making growth capital investments and supporting management buy-outs in smaller-middle market companies based in the UK.
The Travel Network Group is the largest independent travel network in Europe, with over 800 members. They provide a range of membership propositions, products and services that enable new or existing travel businesses to operate within the travel sector.
Corporate partner Emma Gibson led the deal, supported by associate Nina Smith. They worked to tight timescales over the festive period to ensure that the deal was completed in just four weeks.
Investment director, Nick Seaman at Alcuin Capital, commented: “I would like to thank the team at Shoosmiths for completing this deal within a very tight timescale. The transaction had its challenges but Shoosmiths, through their flexible approach and hard work, were able to close the deal in a timely fashion. I look forward to working with them again.”
Commenting on the deal, Shoosmiths’ Emma Gibson said: “This was a complex transaction but the team worked up against tight deadlines to achieve this excellent result for our client. We are pleased to have been able to support Alcuin Capital on this transaction and wish both parties every success for the future.”