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Management buy-out at PGL
Friday, 23 Aug, 2005
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Activity holiday operator PGL Travel has been acquired by its management in a deal valued at £42 million.
The company handles 250,000 children a year on school trips and activity holidays in the UK, France, Spain and Austria.
The management buy-out led by chief executive Martin Davies follows the death of founder Peter Gordon Lawrence last year. The company was established almost 50 years ago to provide canoe and camping trips for teenagers.
The Ross-on-Wye-based company is expected to make pre-tax profits of £5 million this year on turnover of about £55 million, the Financial Tmes reported.
Report by Phil Davies
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