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Hoseasons buyout
Hoseasons Holidays Group has been the subject of a management buyout.
The self-catering holiday specialist has been sold by ECI Partners to the Hoseasons management team financed by UK venture capitalists, HgCapital.
Hoseasons managing director, Ken Gaylard, will stay on for the time being, but plans to retire in the next 12 months – a replacement is being sought.
The company plans to operate as normal from its base in Lowestoft. The call centre and customer relationship businesses have been sold in a separate management buyout to the team from HMS, headed by managing director, Richard Overy.
Commenting on the sale, Mr Gaylard said: “HMS was not a core business for us in the Hoseasons Holidays Group. This move will allow HMS to develop into new market areas, with the support of the specialist call centre team which it has developed under Richard’s leadership, especially over the last three years.”
Hoseasons’ current travel trade director, Yvonne Borg stays on, along with Tim Fullam, marketing director, Paul Temple, financial director, and Ron Haylock will remain as chairman. Jeremy Sharman and Richard Mathews from HgCapital will join the Board.
Over the last 3 years Hoseasons says profits have doubled and turnover increased to over £120 million.
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