Neilson offers activity-focused holidays across seven countries in Europe, where it exclusively operates beachclubs, ski hotels and chalets, as well as 65 yachts for its guests reaching numbers of almost 80,000 every year. Neilson was acquired out of Thomas Cook via a Risk Capital Partners (RCP) backed buyout in 2013.
After a successful holding period, RCP launched a competitive auction process in 2018.
DC Advisory (DC) was engaged by LDC to provide M&A and acquisition finance advice on the transaction. The process included interacting with the Civil Aviation Authority (CAA), managing the company’s model to ensure it complied with banking and CAA covenant tests, and ensuring Neilson had adequate ATOL bonding in place to comply with CAA requirements.
On 2 August 2018 LDC and RCP announced the sale of Neilson. This investment will enable the business to open new hotels and extend the range of countries in which the business operates, as well as providing further backing for strategic acquisitions. As part of the deal, LDC’s Richard Whitwell and David Bains will continue to support the company and provide expertise as board members.
Nam Quach, Managing Director at DC Advisory, commented:
“We are delighted to have advised LDC on their successful acquisition. This transaction further enhances our credentials in the travel & leisure sector and we look forward to working with LDC and management again in the future.”