Olswang has advised the shareholders of Fleetway Travel, a leading online provider of exclusive luxury travel deals, on the sale of the company to UK investors Synova Capital and Tenzing PE. The firm also advised the company’s existing senior management team on their ongoing investment alongside Synova and Tenzing.

Fleetway has developed a unique business model providing hotels and airlines with the strategic capabilities to manage supply and enhance yield throughout seasonal periods, whilst delivering exceptional value for money and service to its customers. The business trades across the Fleetway, Luxury Holiday Collection and Exclusive Luxury Breaks brands and also partners with key online platforms, including Travelzoo and Secret Escapes.

Fleetway’s Managing Sales Director Ben Braude and Operations Managing Director James Clarke will take over the business, having invested alongside Synova and Tenzing. In addition, Ian Coghlan, former chief executive of Abercrombie & Kent and Saga Holidays, will join Fleetway as chairman.

“Fleetway Travel’s innovative business model and distribution platform made it attractive to the investment and private equity community,” said Olswang Corporate Partner Chris Mackie. “Olswang was pleased to advise the shareholders of Fleetway on the sale of the company to Synova and Tenzing, and we look forward to seeing the business continue its success under its new ownership."

Chris Mackie led the deal with assistance from Corporate Senior Associate Jo Hewitt and Associates Georgina Ball and Jamie Larkin as well as Tax Partner Mark Joscelyne and Associate Lydia Hutchinson.