Hogg Robinson floats at £275m
Hogg Robinson floated on the stock market yesterday at less than 75% of the value originally intended by its private equity owner Permira.
The company blamed present market conditions for the lower value, which was suppposed to be £380m.
The company came to market with a capitalisation of £275m, raising £180m to pay off debt, help cover a pension fund deficit and fuel expansion.
Reports in the Guardian said Permira’s stake in the company has gone from nearly 90% to around 18%, while an 11% holding controlled by Radcliffe and his management team will be reduced to 2%.
In the year to March 31, Hogg Robinson reported revenue of £298m and earnings before interest, tax, depreciation and amortisation of £44m.
Chief executive David Radcliffe said: “We believe the listing will raise our profile as a global support services company which operates in the corporate travel and related services market. The listing will also enhance our strategic flexibility as we move into the next phase of the company’s development.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt