2014

Year

Consumer & Retail

Sector

Scott Dunn

Client

Inflexion Private Equity

Acquired By

Scott Dunn / Inflexion Private Equity

Cavendish is delighted to announce that it advised on the sale of a majority stake in Scott Dunn Holdings Ltd (Scott Dunn), the award winning luxury travel brand, to Inflexion Private Equity. The price and terms of the sale were not disclosed.

The transaction followed a pre-sale strategic review of Scott Dunn undertaken by Cavendish during 2014 and culminated in a limited competitive process to short-listed trade and financial bidders.

Founded in 1986 by Andrew Dunn, Scott Dunn provides a broad range of luxury holidays from skiing and Mediterranean resorts to tailor-made journeys and bespoke honeymoons. Scott Dunn is recognised as a premium brand in the sector and is distinguished by delivering very high levels of service to its guests.

Scott Dunn was voted number one specialist tour operator by the readers of Condé Nast Traveller in 2014. The company operates within the luxury travel market, which has grown by more than 12% CAGR over the last three years, as demand from affluent customers in the UK and overseas has increased.

Andrew Dunn, Founder and President of Scott Dunn, commented: “Jonathan, Anya and Eimear did an excellent job and provided expert and diligent advice. Most importantly they worked hard to get the deal across the line. As expected, the project work and transaction spanned a number of months during which time the Scott Dunn team was given support to minimize disruption to the running of the business. Cavendish demonstrated a very good knowledge of luxury brands which, along with their private equity expertise, enabled them to find the perfect partner for Scott Dunn. The proof is in the result though. The deal terms achieved and transaction timing fully met my expectations. I would gladly recommend them to other business owners.”

Simon Russell, CEO of Scott Dunn said: “Cavendish achieved a superb result for both the shareholders and management team, putting in place all the things needed ahead of the sale then running a highly effective process. In the end it all came together beautifully – and very very quickly!”

Jonathan Buxton, Partner and head of the consumer group at Cavendish, commented: “We have greatly enjoyed working with Andrew Dunn, Simon Russell and the team during this process. Scott Dunn is a true luxury brand with a unique breadth of offering and we were able to attract a huge amount of interest from both trade and private equity investors.”

The transaction builds on Cavendish’s expertise in the wider consumer and leisure sectors, including advising businesses such as: Eton Hotels, Searcy, Princess Yachts, Smythson, Liberty, Raleigh Bicycles, Watches of Switzerland, Mappin & Webb and, most recently, the elite cycling company, Boardman Bikes.

Scott Dunn is one of a number of previous and current travel mandates for Cavendish, and follows its appointment during 2014 to advise on strategic options for leading East African luxury safari group Nomad Tanzania.

Key Contacts

Jonathan Buxton

Partner & Head of Consumer

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