Disposal of Sportsworld Group to Destination Sport Limited
Having previously advised on the MBO of Sportsworld Group in 2004 and the subsequent sale of the business to TUI Travel plc in 2008, HMT LLP, has again advised the shareholders of Sportsworld Group on their disposal to Destination Sport Limited (part of the Portman Travel Group).
Sportsworld Group Limited, led by Managing Director Nathan Wilson following an MBO in 2018, has over 40 years’ experience specialising in the design and delivery of international travel and hospitality programs. The business is recognised for delivering highly personalised, enriching experiences with an extensive network of partners around the globe, offering packages centred around major sporting events such as the FIFA World Cup, Olympics, UEFA Champions League and Wimbledon.
Through their award-winning globally recognised brand, Sportsworld have developed longstanding relationships with an extensive network of clients and have continued to grow the business since the disruption to the industry caused by covid-19.
The acquisition by Destination Sport Limited (part of the Portman Travel Group), has enabled the minority shareholders to exit in full. Managing Director, Nathan Wilson has retained a proportion of his value and will continue to lead Sportsworld going forward. As part of the larger group, Sportsworld’s position as market leaders will be enhanced and future development plans will be accelerated with access to new partners and opportunities to add to their current impressive portfolio.
Destination Sport Limited is a global leader in sports travel with expertise in travel management for elite sports organisations, supporter travel, youth development tours, endurance and participation travel plus global destination management.
HMT acted as lead advisors on the transaction which included assessing strategic options for the shareholders, running a competitive sales process, negotiating key terms and agreements, supporting the business through an extensive due diligence process and project managing the deal to a successful completion.
Nathan Wilson, Managing Director of Sportsworld commented:
“HMT provided us with invaluable advice and assistance during the transaction process, utilising their commercial expertise to manage a successful deal. Andrew and his team were professional, supportive, and responsive throughout and I’d have no hesitation in recommending them to anyone seeking investment or a sale of their business.”
Andrew Thomson, Partner at HMT commented:
“Given our previous relationship with Sportsworld, having advised on the MBO in 2004 and subsequent sale of the business to TUI Travel plc in 2008, we are delighted to have again advised the shareholders through the process. The acquisition by Destination Sport Limited allows Sportsworld to continue its exciting growth plans as part of a larger organisation providing further significant future prospects and we wish the group every success for the future.”
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