Media reports suggest that bidding for the Education and Adventure Travel Group (EATG), put up for sale in January by Bowmark Capital, is now approaching a shortlist. Private equity companies European Capital, Graphite, AAC Capital, Advent, HBOS and CCMP, together with some trade buyers, are believed to be vying to make the final stage. EATG, which owns Kingswood and the School Travel Group, is valued at between £100m and £150m.

School travel is big business. The education division of Holidaybreak plc, formed from the acquisitions of PGL and NST in 2007, now accounts for approximately 24% of the company’s revenues, at £109m.

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