Holidaybreak has acquired UK and Ireland educational tour organiser NST Holdings Limited for a total cash consideration of £47.2 million.
The European holiday and activity group will intergrate NST into its Education Division, created earlier in the year following the purchase of PGL.
Established in 1967, NST provides a full range of tours for schools and colleges worldwide.
In 2006, it carried 172,000 students and education staff on over 4,000 trips for groups from the UK and Ireland under the slogan ‘Bringing the Curriculum to Life’.
It also owns Le Château d’Ebblinghem, a 19th-century French country house 8km east of St. Omer in Flanders, which is used as hotel accommodation.
Holidaybreak’s existing education business already organises trips for over 250,000 children each year.
The group’s CEO Carl Michel said: “This acquisition allows us to grow our Education Division. NST’s market leading position, cash flow and margins, are consistent with the Group’s strategy.
“We expect to realise significant benefits from the combination, and we are uniquely placed to capitalise on the exciting developments within this marketplace. Going forward, we will continue to look for suitable acquisitions and have the capacity to consummate further deals.”
By Bev Fearis
