UK-based ECI Ventures has initiated the sales process for the UK’s Kirker Travel, according to a source familiar with the situation. The source estimates that the company’s value lies in the region of £30m and that offers will be made within the coming weeks. At the time of writing, ECI Ventures was not available for comment.
In early 2003, ECI and Barclays Capital funded a management buy-out/buy-in (Bimbo) of Kirker Travel, a provider of premium-quality short and city break holidays, from company founders Christopher and Angy Kirker. The company reported turnover of about £15m for the year ending September 30 2002.
Chris Watt of ECI Ventures is the investment manager in charge of Kirker Travel and sits on the company’s board.