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Henley-on-Thames: HMT advises Andante Travels on management buyin

17 June 2013
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Corporate finance firm HMT, led by partner Andrew Thomson and director Paul Read, has advised Panoramic Growth Equity and incoming CEO, Ian Finlay, on the management buyin of market-leading archaeological travel business Andante Travels. 

Andante, founded in 1985 by archaeologist Dr Annabel Lawson, is a leading British provider of expert guided tours and specialist holidays to destinations of archaeological interest globally.

Based in Salisbury, Wiltshire, the business runs over 100 tours in 32 different countries, led by a highly-experienced, knowledgeable and multilingual team of archaeologists, professors and academics.

Journeys are tailor made, and a network of local contacts ensures that groups are able to escape the crowds and get private access to many of the ancient sites.

Panoramic, a leading investor in fast-growing entrepreneurial SMEs, invested £1.8 million in Andante. With revenues approaching £4m in 2012, and a headcount of 18 at its headquarters, the business is projected to grow significantly in the coming year as the aforementioned investment takes it into its next stage of expansion.

Newly-appointed Finlay, formerly managing director of Tui Travel’s Education Division, is joined on the board by chairman Martin Leppard, who has an extensive breadth of experience in both private equity and the travel sector, currently serving as a board director on several niche travel businesses.

David Wilson, partner at Panoramic, commented:
“The team at HMT did a first-class job in helping us navigate the intricacies of this transaction. Always willing to go the extra mile, we were delighted with the service we received as we now move into the task of delivering strong growth at Andante this year.”

Thomson commented:
“HMT was delighted to advise Ian and Panoramic on its investment in this unique, market-leading business. Having achieved an optimal outcome for all stakeholders involved, we are excited about Andante’s outstanding growth prospects and look forward to working with management and their co-investors in the coming years.

“With four completions in the month of May alone, our deal-flow in 2013 is a testament to the strength of our expanding team.”


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