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Literacy Capital PLC on Friday said it has acquired a majority stake in Halsbury Travel Ltd, marking its third platform investment since its initial public offering back in June 2021.
The London-based investment firm started trading on London's Main Market in June last year, at a price of 160 pence per share. Shares are currently more than double the IPO price; trading 2.0% higher at 408.00 pence each in London on Friday morning.
Halsbury Travel is a Nottinghamshire-based travel agency that focuses on organizing trips for UK schools. Most of the trips are to Europe and are centred around education and languages, Literacy Capital said.
The investment firm said that the investment will allow Halsbury Travel to capitalize on the ‘inherent organic growth opportunity’ as the travel market reopens, with mergers and acquisitions being a ‘key growth driver’, too.
The transaction marks Literacy Capital's nineteenth platform investment since the fund was launched in September 2017. It is also its third since being listed on the London Stock Exchange back in June 2021.
No financial details of the purchase were disclosed.
In separate news, on Friday Literacy Capital said it has received approval as an investment trust, with effect from its accounting period commencing April 1, 2022.
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