Champion client TD Travel Limited, the North West-based independent travel management company, has been sold to a management buy-out team for an undisclosed sum, backed by private equity firm, LDC.
Founded by joint Managing Directors John Owen and Simon King, TD Travel provides travel management services to businesses across the UK and has grown over the past 28 years to four branches in Manchester, Liverpool, Leeds and Hull.
Champion has worked with the company for the past fifteen years, initially providing accountancy services, then later adding tax planning services in line with its growth and increasing profits.
Managing Partner and Head of Corporate Finance at Champion, Ged Cosgrove, led the negotiations with the management team on behalf of the Owner Directors, in addition to providing Corporate Finance advice. Group Tax Director, Gill Molloy provided financial and tax planning advice to the vendors.
Champion also supported Chris Moss and his team at JMW Solicitors, comprising Vicky Protano, Nina Latham and Alan Burns who provided legal advice throughout the deal process.
Former owner of TD Travel, John Owen, commented, "We are delighted after twenty eight years of building TD, to realise our goals and to leave the Company in the hands of an excellent Management Team to take the business forward with their plans for growth.”
“We would like to acknowledge the dedication of Champion Accountants and Chris Moss and his team at JMW Solicitors, for the thorough and professional work provided throughout the transaction process".
Champion’s Group Managing Partner, Ged Cosgrove, commented, “TD Travel has been an excellent business to work with. It has been very successful, not just in providing high quality travel management services to its customers but also in creating its own business veracity. John and Simon have worked hard to build their business over the years and this sale to the management team is the reward for their dedication. It is very satisfying to see a client grow from strength to strength each year and see those people you work with realise their dreams”.
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