International tour operator, Macs Adventure came to TTC during the Covid-19 pandemic. Founder and CEO, Neil Lapping had some offers on the table, but wanted help appraising them.
Neil got in touch with TTC midway through a chaotic pandemic. His business, Macs Adventure, an international tour operator specialising in walking and cycling holidays, had weathered the storm so far and as a true testament to the quality business he’d founded, Neil had even managed to secure several private equity investment offers that would inject several millions of growth capital to help him rebuild and scale when things returned to normality.
But Neil was grappling with the decision. How should he appraise the competing and structurally diverse offers? How much growth capital would be enough to see him through the pandemic and power his growth out of the other side? And how much control was he prepared to give up in the process?
The TTC team quickly got to grips with the Macs Adventure financials. We enhanced the company’s financial model to more clearly illustrate the likely cash flow funding requirements, taking into account the impact of the pandemic and the company’s refund obligations, and the likely ABTA licensing conditions.
Meanwhile, drawing on our years of experience helping travel clients secure investment, we used a range of typical travel business valuation methods to help Neil value his business.
Using these tools, we were then able to identify and appraise several credible alternative funding sources to compare with the private equity offers on the table.
TTC’s support helped Neil generate and appraise a wider range of options and make a decision with clarity and confidence. We are delighted to report that Macs Adventure successfully secured a substantial injection of funding from a private investor.
"The TTC team were fantastic to work with, and they understood the travel industry as well as the challenges we were facing. Martin and Sarah shared some insightful analysis that, as a CEO, helped me to have confidence in the modelling and the decision I was making."
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