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Helloworld acquisition takes it into showbiz territory

December 21, 2018 Headline News No Comments Email Email

Helloworld Travel yesterday capped a successful year of steady expansion by acquiring the business of Show Group Enterprises, a leading travel management specialist and freight logistics organisation serving the entertainment, film, arts, fashion, corporate and sporting industries.

Helloworld Travel Limited’s acquisition of Show Group’s business and assets from the Avis Budget Group was funded “from cash and existing facilities”, Helloworld said.

Helloworld chief executive and managing director, Andrew Burnes, said the company was delighted to add the Show Group business to its portfolio.

“The transaction will allow HLO to expand in this specialised travel and logistics segment and complements our existing corporate business with additional expertise knowledge and capability.”

Highlights of 2018 for Helloworld have included:

  • Successfully completing the acquisition of the Magellan Group.
  • Buying Flight Systems, a provider of web-based flight booking technologies and operator of the website.
  • Acquiring a controlling stake in Asia Escape Holidays, a fast-growing outbound travel wholesaler based in Perth.
  • Announcing that its wholly owned QBT Limited has been appointed sole provider of travel management services to up to 43 South Australian Government agencies for a minimum term of three years.

HLO’s rationale for the acquisition of Show Group Enterprises is as follows:

  • Complements the current HLO corporate businesses, QBT, AOT Hotels, APX and GO C&I with specialist sector expertise;
  • Show Group Enterprises is an industry leader in the entertainment, arts, and sporting travel and logistics segments;
  • The transaction includes businesses trading as: Show Sport, Show Corporate, Show Travel, Show Film, Show Event, Show Fashion, Show Leisure and Show Freight.

Financial details of the acquisition

  • The consideration for the acquisition is being funded from cash and existing facilities;
  • The transaction has been undertaken as an asset sale agreement;
  • The acquisition will be earnings accretive in FY19 and beyond.

Burnes went on to say, “With over 30 years’ experience, Show Group is a highly respected leading business in its field and will continue to provide outstanding services to their many clients across the events, arts, television, movie, sport and corporate sectors in Australia and New Zealand.”

Nick Sutherland, group general manager corporate for Helloworld Travel Limited said “We are delighted to welcome this iconic, specialist travel business to the growing corporate operations of QBT and APX in Australia and New Zealand and we look forward to continuing to provide outstanding service to Show Group’s many clients around the world.”

Written by Peter Needham

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