RNS Number : 0333Q
Literacy Capital PLC
24 June 2022
 

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.

 

 

24 June 2022

 

Literacy Capital plc ("Literacy Capital" or the "Company")

 

Literacy Capital completes acquisition of Halsbury Travel

 

New investment

 

Literacy Capital is pleased to announce that on 22 June 2022 it completed its acquisition of Halsbury Travel Limited ('Halsbury'). Halsbury is a travel agency that specifically focuses on organising trips for UK schools.

 

Literacy Capital has injected fresh capital and acquired a majority stake, with further financial terms remaining undisclosed.

 

Literacy Capital completes acquisition of Halsbury Travel

 

Literacy Capital has completed its acquisition of Halsbury Travel, and subsequent growth capital investment. Halsbury is a travel agency that specifically focuses on organising trips for UK schools. Alex Williamson has been appointed to the Board as Non-Executive Director, bringing a wealth of experience in both the Education and Travel sectors.

The Company is delighted to announce that it has completed a significant investment in Halsbury Travel, a travel agency that specifically focuses on organising trips for UK schools, acquiring a majority stake in the company.

Headquartered in Nottingham, the business was founded in 1986 by two former teachers. Most of the trips are to Europe and are centred around education and languages. Sport and skiing trips are also significant elements of Halsbury's offering. As a fully accredited travel company, booking with Halsbury offers complete peace of mind for teachers, parents, and students alike. Alex Williamson will be joining the Board as Non-Executive Director at completion, bringing a wealth of experience in both the Education and Travel sectors.

The investment allows Halsbury to further improve its product, people, and processes, enabling it to capitalise on the inherent organic growth opportunity as the travel market reopens, with M&A being a key growth driver also.

The transaction represents Literacy Capital's nineteenth platform investment completed since the inception of the fund in September 2017, its third since the fund was listed on the London Stock Exchange in June 2021, and first of this calendar year. Literacy Capital has also supported its portfolio companies in completing four bolt-on acquisitions this calendar year.

Enquiries

 

Singer Capital Markets Securities Limited:

 

Robert Peel / Amanda Gray

+44 (0) 20 7496 3000

 

Literacy Capital plc / Literacy Capital Asset Management LLP:

 

Tom Vernon

+44 (0) 20 3960 0280

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Company's website at https://www.literacycapital.com/.

 

The information contained in this announcement regarding the Company's investments has been provided by the relevant underlying portfolio company and has not been independently verified by the Company.

 

This announcement is for information purposes only and is not an offer to invest. All investments are subject to risk.  Past performance is no guarantee of future returns.  Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.  The value of investments may fluctuate.  Results achieved in the past are no guarantee of future results. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

 

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