MBO is ticket for expansion at Attraction World
Birmingham-based ticket provider Attraction World has undergone a management buy-out. The £6.9m deal was led by Maven Capital Partners, and the funding package will be used to expand the business into Germany, said management.
The deal was led by the Birmingham office of private equity house Maven Capital Partners. Attraction World offers tickets for global tourist attractions, and management said they want to continue to place a greater emphasis on online ticket sales.
When the company was founded in 1996, web-based revenue made just 5 per cent of overall sales. This number increased to 85 per cent in 2010.
Paul Stobbs, managing director of Attraction World, said: “We are delighted to have completed the management buyout of Attraction World. Our business has grown rapidly over the last four years and we are now well placed, as the UK’s leading theme park and attraction ticket provider, to see considerable further growth in the years ahead.
"The investment from Maven will allow us to accelerate our growth strategy and management are delighted to be backed by an equity provider which quickly saw the opportunity to establish Attraction World in new markets. We look forward to building upon our market leading position and are excited about the opportunities that new technologies are providing.”
