Revived travel business secures investment
Back on the road: Caledonian Travel
A revived coach and self-drive holiday company has received a multi-million-pound investment nine months after falling victim to the first lockdown.
Caledonian Travel and UKBreakaways.com, operating under parent company Caledonian Leisure, have been launched from the remnants of the Specialist Leisure Group which went into administration last May.
The Glasgow-based business is headed by non-executive chairman Gary Speakman, managing director Graham Rogers and commercial director Martin Lock.
Product director Carl Brackenbury, finance director David McDonald and IT and digital director Mark Williams complete the line-up of founding shareholders.
The company expects customers to be able to holiday with from June when government Covid restrictions are due to be lifted.
It has been backed by investment firm Mobeus Equity Partners whose investment director Greg Blin said: “Mobeus is backing an extremely passionate management team which has decades of experience in delivering UK-based, value short breaks to hundreds of thousands of holidaymakers.
“With the pandemic opening customers’ eyes to the enduring appeal of a UK staycation, we believe the business is perfectly positioned to capitalise on the spike in demand as lockdown restrictions are gradually eased and thrive thereafter.”
Mr Rogers added: “It was always our absolute priority to find the right kind of partner for the business.
“From the outset the whole Mobeus team bought into our vision for Caledonian Leisure.
“We are particularly keen to re-establish relationships with agents that have previously worked closely with the Caledonian Leisure management team.”
Mobeus has recently backed the IPOs of Virgin Wines and Parsley Box.