Spectrum Corporate Finance successfully advised Synova Capital LLP on a debt raise of £9m to part fund the acquisition of Fleetway Travel Limited in conjunction with Tenzing PE Limited and management. Based at Marble Arch, Fleetway Travel Limited is a leading online provider of exclusive luxury travel deals, having developed a unique, technology-driven model providing hotels and airlines with the strategic capabilities to manage and enhance yield throughout the seasonal calendar. These strong supplier relationships enable Fleetway to deliver exceptional value for money and service to its own customers. The business trades across the Fleetway, Luxury Holiday Collection and Exclusive Luxury Breaks brands, with key online partners including Travelzoo and Secret Escapes. Synova and Tenzing have invested alongside the existing Directors, James Clarke and Ben Braude. Additionally, Ian Coghlan (previously CEO of both Abercrombie & Kent and SAGA Travel) has joined the business as Executive Chairman.
“Ian and the team at Spectrum helped deliver a strong debt package on competitive terms and we were extremely pleased with the level of support provided in getting this transaction over the line. We are delighted to be supporting the management team in securing the next phase of Fleetway’s development and Spectrum’s assistance throughout the process helped us meet demanding deal deadlines and keep the deal on track.”Alex Bowden, Partner, Synova Capital LLP and a Director of Fleetway Travel Limited