Travers Smith LLP has advised the shareholders of Loveholidays on its sale to Livingbridge for an undisclosed sum.
Loveholidays is a short-haul beach holiday provider, and the fastest-growing online travel agent in the UK. It allows customers to create bespoke holidays through 'discovery search', allowing customers to select a holiday based on filters that matter to them, rather than location and date only. The company was founded by Alex Francis and Jonny Marsh in 2012 and now employs a team of 140 people.
The Travers Smith team was led by Private Equity Partners Edmund Reed and Adam Orr, who were supported by Private Equity Associates James Parker, James Thomson and Matthew Powrie. Tax advice was provided by Partner Hannah Manning, who was supported by Senior Counsel Elissavet Grout (from the Incentives and Remuneration Group) and Tax Associate Will Kelleher. Senior Associate Ailie Murray provided employment law advice.
Completion of the transaction required regulatory clearance being given by the Civil Aviation Authority. Travers Smith have advised on a number of deals requiring such consent, including acting for long-standing client Phoenix Equity Partners on the sale of Riviera Travel to Silverfleet Capital.