OTA Loveholidays could achieve a valuation of almost £1 billion as its owners reportedly plot a potential sale in the first half of 2024.
Livingbridge, the private equity firm which has owned a stake in Loveholidays since 2018, is preparing to kick off a formal auction of the company, Sky News reported.
The news broadcaster cited City sources as saying that plans for a refinancing were now evolving into a sale, with one insider saying it was likely as soon as the second quarter of the year.
Investment bank Evercore was said to be working with Livingbridge.
One insider said that Loveholidays would be expected to command a price tag of about £900 million based on earnings before interest, tax, depreciation and amortisation [ebitda] of approximately £65 million.
The business, founded in 2012, was supported by a substantial funding injection from Livingbridge during the pandemic and now employs about 250 people.
Livingbridge declined to comment to Sky News on a potential sale of Loveholidays.
A spokesperson for loveholidays said: “We’re working with Evercore to refinance to support our extraordinary growth and strategic development.
“A sale process is not on the horizon, and our focus remains on delivering for our customers, investing for growth and becoming Europe’s number one package holiday provider.”
Go to Source...