Travelzest considers buyout by own directors

Upmarket market travel operator group Travelzest has announced the closure of the formal sale process that was initiated in May of this year, having received indicative proposals from a number of parties.

Upmarket market travel operator group Travelzest has announced the closure of the formal sale process that was initiated in May of this year, having received indicative proposals from a number of parties.

Of these, the company believes the most attractive was from a group supported by Jonathan Carroll, Travelzest's own Chief Executive Officer, and Adrian Cobbold, Chief Financial Officer, and their private equity backers. The proposal was made with a view to the management team acquiring its Canadian businesses and assets, which represents almost all of the revenues and futures profits of the group.

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