Tours and activities distribution and booking specialist Attraction World Group (AWG) has been acquired by newly founded investment consortium Montana World Investments.
Terms of the deal have not been disclosed, but AWG's executive team joins Montana World Investments as shareholders as part of the transaction. Highmore Group has provided financial backing for the transaction alongside investors from the Netherlands and United States.
The deal also enables private equity firm Ten Oceans, which acquired AWT in mid-2021 for an undisclosed amount, to exit.
According to a release, AWG will use the investment to expand in new markets, invest in technology and pursue acquisitions.
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Olly Nicholls, group CEO of AWG, said, "Over the past two years, we've identified new opportunities within the travel industry and crafted a compelling proposition for our existing and new partners on a global scale. Our strategy has evolved from being [United Kingdom]-focused to truly global. With the backing of our new funder, we are actively working on bringing strategically aligned businesses into the group to enhance our strategic goals. I extend a heartfelt thank you to the entire AWG team for their recent hard work. Our culture and values have been the bedrock of our success thus far and will continue to guide us as we forge ahead.”
Dipak Jogia, co-founder and managing partner at Highmore, said, “We are pleased to have supported Montana World Investments and Attraction World Group with this innovative funding package. We are highly constructive on the wider leisure sector and see this as the first step towards building AWG into a diversified group across the ever-evolving travel landscape with the proven management team and ownership group.”