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PGL Travel Limited, owned by Ares Management, is a leading provider of school camps and activity programs across the United Kingdom, France and Australia. In Australia, PGL operates three large-scale camp facilities located in Victoria and Queensland, welcoming more than 40,000 guests annually. The camps cater to a diverse range of groups including schools, religious organisations and sporting associations, with the capacity to accommodate over 1,000 guests at any one time.
The shareholders of PGL Travel engaged Nash Advisory to manage the divestment of its Australian operations. The sale encompassed three established sites positioned in prime regional locations, offering significant growth potential within the outdoor education and experiential learning sector.
PGL's Australian facilities and operations were ultimately acquired by EdCamps Australia, a portfolio company owned by MA Financial and FinCap - existing operators in the outdoor education and experiential learning space, having previously acquired The Great Aussie Bush Camp through Nash Advisory in 2023.
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Hear from Carl Stanforth the Director of PGL Adventure Camps
Outdoor adventure & education camps
PGL Travel Limited has operated in Australia for over a decade, establishing three large-scale camp facilities in prime regional locations across Victoria and Queensland. The camps have built a strong reputation within the outdoor education and experiential learning sector, welcoming more than 40,000 guests annually from schools, religious organisations and sporting associations.
As part of a broader portfolio review, PGL's parent company Ares Management made the strategic decision to divest the Australian operations and focus on its core UK and European markets. The shareholders engaged Nash Advisory to manage the sale process, seeking an advisor with deep experience in the outdoor education and tourism sectors and the ability to navigate a cross-border transaction involving multiple stakeholders across Australia, the United Kingdom and the United States.
The transaction required careful coordination given the number of parties involved (including PGL Australia, PGL UK, Ares Management and their respective advisor groups), as well as the need to present the business in a way that clearly articulated its operational strengths, asset quality and growth potential to prospective acquirers.
Nash worked with the client to identify opportunities to streamline operating expenditure ahead of going to market. These recommendations were implemented and contributed to a strengthened financial profile ahead of buyer engagement.
Nash prepared detailed marketing materials articulating the quality and strategic rationale of the PGL Australia assets, three established school camp facilities in prime regional locations across Victoria and Queensland. The IM clearly presented the business's camp-level contribution, guest capacity, and growth potential within the outdoor education and experiential learning sector.
Drawing on Nash's network within the outdoor education sector and its prior experience having sold The Great Aussie Bush Camp to the same buyer group, Nash was able to efficiently engage EdCamps Australia as the acquirer. Nash's familiarity with the buyer's investment approach and operational capabilities enabled a focused bilateral process and helped align both parties on commercial terms early.
Nash negotiated a transaction structure combining upfront cash consideration with a deferred earn-out linked to post-completion EBITDA performance. This structure provided the buyer with confidence in the entry valuation while preserving meaningful upside for the vendor, ensuring both parties were incentivised around future performance.
Nash Advisory engaged by PGL Travel Limited (Ares Management) to manage the divestment of its Australian operations. Engagement letter signed and financial system access obtained.
Information Memorandum prepared and distributed. Site tours of PGL's Victorian and Queensland facilities conducted with the prospective acquirer.
Non-binding indicative offers received and negotiated across multiple rounds. Nash worked with both parties on price, deal structure, and conditions to achieve a balanced outcome.
Non-binding heads of agreement signed with EdCamps Australia. Formal due diligence commenced, with Nash coordinating financial, legal, property and operational workstreams.
Due diligence completed with no material issues. Legal documentation drafted and negotiated, with Nash reviewing key commercial terms on behalf of the vendor.
Transaction documents executed by both parties.
Transaction completed. PGL Australia's three camp facilities and operations formally transferred to EdCamps Australia.
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