Corporate Finance Deal Announcement: ET Travel
We are delighted to announce we have advised Glen Duckworth and Ian Patterson, the shareholders of ET Travel (“ET”), on the sale of the business to The Appointment Group (“TAG”).
ET, which has been in business for almost two decades, provides effective travel solutions to clients in the UK and European corporate and entertainment sectors. ET will become a wholly owned subsidiary of TAG. Ian and Glen have joined the TAG board as chief operating officers.
Advice was provided by managing director Laurence Whitehead and director Martin Shaw. Specialist corporate tax advice was provided by tax director Gareth Peters. The team advised the shareholders during the negotiations with TAG and provided strategic advice on the structure of the transaction. Magraths LLP of London provided the shareholders with legal advice.
“Joining a business like TAG will allow us to offer our clients a far greater degree of enhanced services worldwide.”
“Ian and I have been delighted with the advice given to us by MHA MacIntyre Hudson’s corporate finance team. They assisted us from the outset right through to completion, providing solid advice and support on the financial and accounting aspects of the process and liaising closely with our legal advisers.”
John Gianquitto, TAG’s joint chairman and CEO, believes that “bringing the businesses together will create an exciting and dynamic management team that will drive continued global growth”.
"It has been a pleasure to work with Glen, Ian and their team at ET and we wish them and all at TAG continued success. The benefits of bringing the two businesses together are compelling and we are glad to have been able to work closely with ET to help make this happen.”
If you would like to know more about this deal or how we can assist you, your clients or your contacts, please send us an online enquiry.