Bishopsgate Corporate Finance, containing offices in Stamford Lincolnshire, introduced a lead advisory role for the founders of Virgin Experience Days on the sale with the company to Inflexion Private Equity.
Acorne Ltd, which trades beneath Virgin brand as Virgin Experience Days, pioneered the action gift voucher market and contains seen enormous success over the last A decade’s reaching 50m in turnover during 2017.
The 30m deal represents an exit because of its founders Richard Gyselynck and Andrew Dent and also the potential for the previous management team, alongside Inflexion, to accelerate growth in both the B2C and B2B divisions.
Andrew Dent, Founder said: “We have enjoyed growing the business organically and acquisition and believe the corporation is capable of substantial future growth. We’re delighted that Inflexion have recognised this potential.”
Richard Gyselynck, Founder added “This investment by Inflexion will assure the longevity on the business and allows the management team to carry on to take part within the future growth. Experienced management and new blood will allow the company to exploit fully the market industry opportunities now coming out.”
Paul O’Brien, Managing Director commented: “It’s been a pleasure leading Virgin Experience Days over the past 12 years, I’m like to show off the successful business its today. Inflexion shares our vision for growth, backed by their digital expertise and international reach; high quality into a prosperous partnership.”
The Bishopsgate Corporate Finance team was led by Simon Stephenson and James McBain Allan.
Simon Stephenson, Managing Director of BCF said: “We enjoyed working together with the 2 main founders, Andrew and Richard they usually needs to be congratulated on building an exceptionally strong business having a very capable management team.”
James McBain Allan, Associate Director said: “This would be a highly complex deal with a niche market and growing sector. The influence of your millennial mentality as well as the focus of “experiences” over “things” has recently driven huge growth and the future likelihood of VED is very large.”
The Vendors informed by Bishopsgate Corporate Finance (CF) and BrookStreet Des Roches (Legals) while using the Management Team advised by Cooper Parry Corporate Finance (CF) and Howes Percival (Legals). Inflexion informed by PwC (CF) and Taylor Wessing (Legals).
Bishopsgate Corporate Finance is among the UK’s longest established corporate finance boutiques dedicated to providing lead advisory services to businesses valued between 2m and 50m. Founded in 1996, Bishopsgate has since advised on over 180 transactions with a total value in excess of 1 billion.