Sunday Times: Force is with Abbey Tours buyout

Posted on: 19-April-2022
cross_image
Posted on: 19-April-2022
Abbey Tours

Force is with Abbey Tours buyout

Brian Carey

Tuesday April 19 2022, 12.01am BST, The Sunday Times

DunPort Capital is backing a management buyout at Abbey Tours, the country’s largest inbound tour company, with funds from its €50 million pandemic recovery and stabilisation fund.

Abbey’s chief financial officer Darren Byrne is leading the buyout, with seven fellow managers, from the current director shareholders, Jane Magnier and Marina Finn. Byrne will become chief executive after the deal.

Abbey organises package tours to Britain and Ireland, including visits to Skellig Michael, where two Star Wars movies filmed. It posted revenues of €94.5 million in 2019, making profits of €4.2 million. Sales slumped to €2.5 million and losses rose to €5.7 million in 2020. It ended the year with net assets of €15 million.

DunPort set up the recovery fund with backing from the Ireland Strategic Investment Fund. Its aim is to help companies exit the pandemic with financial stability and position them for recovery and growth.

Abbey is the fund’s first investment. Ross Morrow, DunPort executive director, said: “It was a great company pre-Covid, and will be a great company post-Covid.”

https://www.thetimes.co.uk/article/force-is-with-abbey-tours-buyout-33sjcl7xv

 

About DunPort Capital

DunPort are the leading provider of non-bank corporate and SME debt capital in the Irish market and an emerging player in the UK lower mid market with a demonstrable track record in both. DunPort are an Irish owned asset manager, founded in 2017 by the then senior executives of BlueBay Asset Management, Pat Walsh and Ross Morrow who successfully established the first private debt platform in Ireland in 2013.

https://www.dunportcapital.ie/

Related Articles
blog-trans
Posted on: 10-May-2024
DunPort are delighted to have provided debt facilities to support Aurias founders, Amir Nooriala and Daniel Cardenas-Clar, in...
blog-trans
Posted on: 07-May-2024
DunPort are delighted to have provided debt facilities to support FPE Capital’s portfolio Company, NoBlue2, to acquire BrightBridge...
blog-trans
Posted on: 08-February-2024
We are pleased to give you an update on DunPort Capital Management’s activities and achievements during the past...
blog-trans
Posted on: 15-September-2023
DunPort are delighted to have provided debt facilities to support FPE Capital’s portfolio Company, NoBlue2, to acquire BrightBridge...
blog-trans
Posted on: 13-June-2023
DunPort are delighted to announce that we have supported MML Ireland’s investment in Innopharma. MML have invested in...
blog-trans
Posted on: 24-May-2023
DunPort are very pleased to have provided debt facilities to support Lonsdale Capital Partners portfolio company, Today’s Dental....
blog-trans
Posted on: 03-February-2023
DunPort are very pleased to have provided debt facilities to support Lexar Partners in its acquisition of PFM...
blog-trans
Posted on: 21-December-2022
UTS Technologies, Ireland’s leading provider of parking terminals and technology, has been acquired by Valley Way Solutions with...
blog-trans
Posted on: 09-November-2022
DunPort are delighted to announce that we have supported Schivo Medical in it's acquisition of APN Inc. Schivo,...
blog-trans
Posted on: 13-June-2022
DunPort are delighted to have supported the founding management team of Goals Football in their recent buyout of...