CLB Coopers' Corporate Finance Team recently advised SAT Business Travel Management Ltd ("SAT") on its sale to Incorporate Travel Management Ltd ("Incorporate").
SAT is the principal subsidiary of Strandhall Management Ltd, of which Incorporate has acquired 100% of the business, with the backing of Praetura Capital LLP ("Praetura").
Established for over 30 years and based in Horwich, SAT is recognised as one of the UK's leading independent marine and corporate travel management specialists, providing services including Air Travel, UK & European Rail Travel, Conferences, Hospitality and Passport Visa Assistance.
The deal sees one of its current shareholders, Paul Sutton, remaining with the business to help the wider group deliver its ambitious growth plans.
The team at CLB Coopers was led by Andrew Feeke, David Travis and Ian Smethurst (Tax) whilst Paul Lockett of LLM Solicitors provided legal advice to the selling shareholders.
Incorporate Travel Management Ltd was advised by Praetura, with the team led by Peadar O'Reilly and Bill Tannerhill. Praetura provided equity funding, with Centric Commercial Finance providing debt funding. Legal advice was provided to Incorporate by Gateleys, led by Paul Jefferson and Victoria Jew.
Commenting on the deal Andrew Feeke said:
"The CLB Coopers team has worked with the shareholders for several years to fine tune and position the business for an exit. This is an excellent juncture for the company to become part of Incorporate to capitalise further on the niche market opportunities identified and to enhance SAT's exceptional reputation for service delivery in the marketplace.
For CLB Coopers, this deal encapsulates our approach of working with businesses through their lifecycle, through efficient tax planning, maximising the value and attractiveness of the business for an ultimate sale."