On the Beach ‘up for sale’
On the Beach has reportedly been put up for sale for around £100 million.
The online travel company which specialises in beach holidays is on the search for a new investor, reports the Sunday Times.
It says Isis, the private equity firm which bought a stake in On the Beach five years ago, is close to hiring DC Advisory to find a new investor.
But chief executive Simon Cooper, who founded the website in 2004 and remains a significant shareholder, is likely to stay with the business if bought by another private equity buyer.
It is thought the company, which made profits of about £10 million, would sell for £80 to £100 million.
Diane
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