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Management Buy-out of Saga

Tuesday, 11 December 2018
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Tuesday, 5 October 2004

Travers Smith advised the management team of Saga on the management buy-out of the company, funded by Charterhouse Development Capital.

The MBO auction process, which lasted for over a month, was run in tandem with the real possibility of an IPO. UBS was retained to advise on a float or trade sale. Charterhouse won the deal after an intense auction process involving a number of other bidding consortiums.

Saga's executive management team, led by CEO Andrew Goodsell, will remain unchanged following the deal.

Saga is the leading provider of products and services to people aged 50 and over in the UK. Saga was founded by Roger De Haan's father, Sidney, in 1951 as a travel business. The company has diversified into insurance, financial services, its own cruises, magazine publishing and radio.

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