Secondary buyout likely for school trips company

Education & Adventure Travel Group, a provider of school holiday trips in the UK, has been put on the block by current private equity owner Bowmark Capital. It is believed that the group could fetch between US$200-300m (£100-150m).

Sources report that buyout houses European Capital, Graphite Capital, AAC Capital, Advent International, Bank of Scotland Integrated Finance and CCMP Capital have made the second round cut in an auction managed by PricewaterhouseCoopers.

Bowmark Capital created Education & Adventure Travel Group through the merger of School Travel Group and Equity Travel which it acquired in 2004 and 2005 respectively.