Mon, 16 Feb 2015 | BUSINESS SALE
The founders of the open-top sightseeing tours company Big Bus Tours are in line to net around £300 million as they sell the firm sources suggest.
UK private equity firm Exponent are said to be the frontrunners to complete the sale for a rumoured £400 million.
The Maybury family founded The Big Bus Company in 1991, starting out with just a few buses. The company has since expanded, more recently since 2011 when they merged with French rival Les Cars Rouges to form Big Bus Tours. Their burgundy and cream buses are now seen all over the world, in destinations such as New York, Shanghai and Dubai.
The sale of the business could prove a windfall for founders Richard, Desmond and Eleanor Maybury, worth up to £300 million according to reports. Investors Al Fahim Group, who bought a 30 per cent stake in the firm in 2000, are also expected to pocket payouts from the sale.
JP Morgan is in charge of the sale and a deal is expected to be announced within the next few weeks. It would come only a few weeks after Exponent sold thetrainline.com to American private equity firm KKR.
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