mynth
← DATABASE
01/2023

SCOTT DUNN acquired by FLIGHT CENTRE TRAVEL GROUP

UNITED KINGDOM Hospitality & Leisure / Travel / Tour Operators EV 100M - 350M GBP

Context

Flight Centre Travel Group has agreed to acquire Scott Dunn from private equity firm Inflexion. The acquisition provides Flight Centre with a scalable entry point into the UK and US luxury travel markets. Flight Centre funded the deal through a �102 million equity raise underwritten by Macquarie and UBS, plus existing cash. This marks a successful exit for Inflexion, which had owned Scott Dunn since 2014 and supported its expansion into the US and Asia via acquisitions (Aardvark Safaris, Country Holidays).

SCOTT DUNN, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Retail & Consumer sector (11.0x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Retail & Consumer market trends

Target

Founded in 1986 and headquartered in London, Scott Dunn is a high-end luxury tour operator specializing in tailor-made holidays, ski chalets, and family vacations. It operates globally with a strong presence in the UK (74% of transaction value) and the US (21%), along with a small footprint in Asia (Singapore). The company is known for its high-touch service, including 24-hour guest support and exclusive kids' clubs. At the time of the deal, it employed approximately 200 staff globally (note: text says 51 staff, likely referring to a specific office or outdated, but known to be larger).

Ent. Value

LOGIN

Equity Value

LOGIN

Multiples

EV / Revenue

LOGIN

EV / EBITDA

LOGIN

EV / EBIT

LOGIN

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2023
LOGIN
LOGIN
LOGIN
2022
LOGIN
LOGIN
LOGIN

Similar deals in Retail & Consumer

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
05/2023PAI PARTNERSLOOPING GROUPFRANCEHospitality & Leisure

PAI Partners has signed a definitive agreement to acquire a 75% majority stake in Looping Group from Mubadala Capital and Bpifrance. This transaction marks the fourth leveraged buyout for the group. The founding management team will retain a 25% minority interest and continue to lead the group’s ambitious growth strategy

02/2023ADAMANTEM CAPITALRETAIL ZOOAUSTRALIAHospitality & Leisure

Adamantem Capital acquired a 70% majority stake in Retail Zoo from Bain Capital. The transaction is structured as a mid‑market buyout through Adamantem’s second mid‑market fund, with the remaining 30% ownership retained by the existing management and founder‑shareholders, including Retail Zoo CEO Nishad Alani and founder and chair Janine Allis

01/2023MCWIN CAPITAL PARTNERSL’OSTERIAGERMANYHospitality & Leisure

The McWin Restaurant Fund agrees to acquire a majority stake in L’Osteria. The transaction is structured as a control‑buyout in which founders Klaus Rader and Friedemann Findeis remain significant minority shareholders, alongside CEO Mirko Silz and the existing management team, ensuring continuity of leadership and brand identity

07/2022DENNY'SKEKE'S BREAKFAST CAFEUNITED STATESHospitality & Leisure

Denny's Corporation acquired 100% of the assets of Keke's Breakfast Cafe. The transaction was funded through a combination of cash on hand and borrowings from Denny's existing revolving credit facility

07/2022EUROPEAN CAMPING GROUP (ECG)VACANCESELECTFRANCEHospitality & Leisure

Less than a year after being acquired by PAI Partners, European Camping Group (Homair, Eurocamp, Roan) absorbed its direct competitor, Vacanceselect. This transaction allowed ECG to double its revenue and become the #3 European leader in the sector

07/2022COMPAGNIE DES ALPESMMVFRANCEHospitality & Leisure

The acquisition of an 85% stake in MMV by Compagnie des Alpes represents a strategic growth initiative, enabling the company to bolster its presence in the European leisure and ski resort industry. By acquiring MMV, the second-largest operator of hotels and club residences in the French Alps, Compagnie des Alpes gains control of a portfolio comprising 20 establishments across 16 renowned ski resorts

07/2022AVOLTAAUTOGRILLItalyHospitality & Leisure

The transaction represents a transformational merger between Dufry, a global leader in travel retail, and Autogrill, a global leader in travel food and beverage services. The combination was designed to create an integrated, diversified global travel experience player with an unparalleled presence across various geographies and service channels

06/2022BLUEGEM CAPITAL PARTNERSFOODBOXSPAINHospitality & Leisure

BlueGem Capital Partners successfully completed the strategic acquisition of a 100% stake in FoodBox from Nazca Capital and its founding partners in June 2022. This high-profile transaction marks a significant consolidation in the Spanish organized catering market, as BlueGem already holds a majority position in the premium restaurant group Lateral

05/2022DEA CAPITALPIZZERÍAS CARLOSSpainHospitality & Leisure

DeA Capital Alternative Funds, through its specialized food and beverage vehicle Taste of Italy 2, acquired a majority stake in the Spanish fast-casual restaurant chain, Pizzerías Carlos. This strategic investment is designed to provide the capital and support necessary to accelerate the company's ambitious expansion plans across the Iberian Peninsula, specifically targeting growth in Spain and Portugal

03/2022JACK IN THE BOXDEL TACO HOLDINGSUNITED STATESHospitality & Leisure

Jack in the Box Inc. finalized its acquisition of Del Taco Restaurants, Inc. via a merger agreement, securing full ownership and delisting Del Taco from NASDAQ. Synergies stem from overlapping guest demographics, menu overlaps in variety-driven comfort foods, and aligned cultures prioritizing innovation and value—enabling shared investments in digital platforms, technology, and franchise development

REFERENCES

Valuation range: EV 100M - 350M GBP

EBITDA range: 5M - 25M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SCOTT DUNN by FLIGHT CENTRE TRAVEL GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: flight centre travel group