Livingstone’s Consumer sector team is pleased to announce the sale of The Leisure Pass Group to its management team, led by CEO Darran Evans and backed by private equity house Primary Capital, for £35m.
Livingstone advised the shareholders of The Leisure Pass Group on the transaction.
The Leisure Pass Group is the world’s leading operator of multi-attraction tourist passes, which give tourists free access to a wide range of popular sites and attractions in a city. LPG sells nearly 700,000 passes per year covering major destinations including London, Paris and Berlin.
The Group’s proprietary technology platform, on which its smart card passes operate, is also provided on a white-label basis to a wide range of other cities including Stockholm, Copenhagen and Lyon.
Mitch Cybulski, outgoing Chairman of The Leisure Pass Group, commented: “We were impressed by Livingstone’s understanding of the global travel and leisure sector, and the insight they brought to the value of our technology platform. They were committed to achieving the best result for the shareholders and have been tireless and tenacious in getting this over the line.”
Denzil Rankine, non-executive director of LPG and founder and Chairman of AMR International added: “The Livingstone team were tenacious throughout and they combined a clear understanding of the business with creative solutions to complete this difficult transaction.”