asb law advises on Top Deck Tours sale
Crawley-headquartered asb law has advised on the multimillion-pound sale of Top Deck Tours to a listed Australian group.
The firm acted for the owners of the tour operator in the sale of 90 per cent of its issued share capital to Flight Centre Travel Group.
The deal valued the business at £21.84m.
Top Deck Tours was co-founded by Flight Centre's managing director Graham Turner, who owned a 4 per cent share of the business prior to the deal.
The company offers tours to the 18-30 market to destinations such as Australia, New Zealand, Egypt, Morocco, the Middle East, North America and Africa.
As part of the deal, all the UK shareholders sold their stakes to Flight Centre, with the exception of Top Deck managing director James Nathan, who holds the remaining 10 per cent and will continue to oversee the UK side of the business.
The asb law team, led by head of corporate Helen Mead, acted for all sellers in the transaction.
Mead said: "This was a particularly exciting transaction, in one of our core sectors. asb is heavily involved in the travel market, acting for a range of tour operators, agents and membership organisations.
"It was good to be able to bring that experience to bear in this transaction which was executed smoothly with a considerable degree of goodwill on all sides. We're sure that Top Deck will continue to go from strength to strength under its new ownership."