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Nash Advisory undertook a full analysis process to prepare Travellers Autobarn for sale. We achieved a Joint Venture agreement with the Diethelm Keller Group, a large and highly diversified Swiss family office. This allowed Travellers Autobarn to realise their local and international growth potential.
The sole owner of Travellers Autobarn engaged Nash Advisory to begin the Joint Venture process for their business in late 2017. The founder had rapid plans for international growth for the businesses, and sought a strategic growth partner to support this aggressive strategy.
Throughout the 12-month sales process, the Nash team developed a highly effective sales strategy to appeal to a pool of over 80 potential buyers. After working closely with the owner, travelling to Europe to meet potential buyers, both parties were satisfied with the best possible sales result outcome.
Tourism, Transport, Travel, Automotive, Car Rental
Travellers Autobarn was established in 1993 by a sole founder who owned and ran the business for 25 years. The business had grown to hold over 700 rental vehicles in Australia, New Zealand and the United States, with future plans to grow rapidly and aggressively pursue opportunities in the USA.
The founder required a financial partner with tourism experience to assist in the international growth of the business. To achieve the scaling required to meet the demands of the international market, the founder required a joint venture partner to invest in 50% of the business.
As one of Australia's most iconic vehicle rental businesses, Travellers Autobarn has a long and storied history of providing unparalleled travel experiences to citizens and tourist alike. The Nash team sought to communicate this growth story, supported by with data, painting an accurate picture for prospective buyers.
Relying on our thorough analysis of Australia's growing tourism industry, the Nash team were able to demonstrate the opportunities within the sector to prospective buyers. Formulating a high end growth model with key industry insights was a key part in the final sales result for Travellers Autobarn.
After our exhaustive analysis was complete, we moved to identify potential buyers that would respond well to the Travellers Autobarn business model. We identified over 80 prospective candidates selected from our international network of buyers.
The Nash team hired a van for a week and travelled around to better understand the business. We also travelled to Europe with the founder to meet with prospective buyers. This was an imperative step in building trust and an ongoing partnership between the owner and his potential partners.
Nash began an initial 6-month business exit advisory process by understanding the business and reviewing all operations. This included the development of key growth strategies.
Our team conducted extensive research into the tourism industry by building a market map and group of likely buyers. An Information Memorandum was prepared, leading to the launch of sales process.
Nash engaged with over 80 buyers across private equity, tourism, international groups and family offices. The team flew to the United Kingdom to meet with potential buyers.
We received offers from different parties, ranging from a 100% acquisition, to a traditional joint venture.
Nash flew to Zurich to meet with buyers to complete data collation and Q&A processes with the lead buyer.
We worked closely with a number of prospective buyers, to finalise Q&As, received non-binding indicative offers, and opened a full data room for Due Diligence.
Exclusivity was granted to a Zurich-based business, Diethelm Keller Group, a large, diversified Swiss family office. This group was identified for their ability to support the strategic growth planned for Travellers Autobarn.
The final sale process was completed.
When it comes to preparing your tourism business for sale or Joint Venture, Nash Advisory has the tools and experience you need to get the best possible result.
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