Cattaneo Corporate Finance advised Attraction World on a new growth finance package and sale to Montana World Investments.

Cattaneo has advised Attraction World Group (“AWG”) on the successful completion of a new growth finance package and sale to newly founded international investment consortium, Montana World Investments. As part of the transaction a new debt facility has been structured by US-based Highmore Group through its Trade and Specialty Finance business, alongside additional investors from the Netherlands and the US. AWG’s executive management team also joins Montana World as shareholders.

The transaction supports central Birmingham-based AWG, a UK market leader in the provision of attraction tickets, as it embarks on an ambitious journey of global expansion into exciting new market segments such as loyalty programs, online travel agents (OTAs), airlines, rail, and transportation, while also globalising its consumer-direct channels FloridaTix, AttractionTix and GoSeeDo. The infusion of capital will be strategically employed to fuel growth across new markets, make strategic investments in cutting-edge technologies, and pursue acquisitions that align with AWG’s vision.

The Cattaneo team of Scott Peters and Martyn Pilley led the transaction as corporate finance adviser to Attraction World Group. The team worked closely with AWG from the early stages of it developing its growth strategy and considering financing options and then played a pivotal role in delivering the cross-border transaction.

Highmore, which has in excess of $2.5bn under management, is a full-service, SEC-registered, asset manager offering both private and institutional client’s expertise across the alternative investment universe. The deal also facilitates an exit for previous AWG shareholder, Ten Oceans. Legal advice was provided to Highmore by the London office of Arnold & Porter while Raworths (Harrogate) provided legal advice to Montana World and the Birmingham offices of Ansons and Mills & Reeve advised AWG and Ten Oceans respectively.

Olly Nicholls, Group CEO of AWG, shared his enthusiasm for this pivotal moment for AWG, saying:

“This new chapter for AWG is incredibly exciting for all involved, but most especially for AWG employees. 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 UK-focused to truly global. With the backing of this funding we are actively working on bringing 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.”

Scott Peters of Cattaneo Corporate Finance commented:

“This is an exciting deal to have worked on. The dynamic team at AWG combined with the financial firepower provided by Highmore and Montana World Investments will allow AWG to capitalise on a number of exciting market opportunities. We are delighted to have supported on this successful transaction and look forward to continuing to work with them in future.”

Dipak Jogia, Managing Partner and Co-Founder 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.”