Private equity firm, LDC, has announced its decision to sell its stake in Zip World, the operator of the world’s fastest zip line ride. According to sources, LDC, which is a part of Lloyds Banking Group, has enlisted the help of corporate financiers at KPMG to oversee the sale of its stake.
Zip World, which currently operates seven sites in Wales, Cumbria, and Manchester, offers a range of thrilling activities such as indoor climbing, underground golf, and treetop-trekking. It caters to both the corporate market and families, making it a popular destination for adventure-seekers of all ages.
In 2018, Zip World sold a stake to LDC in a deal that valued the company at £45m. This move was aimed at driving the company’s growth and expanding its reach in the leisure industry. Last year, Andrew Hudson, who has been with the company for five years, was appointed as the chief executive to lead its growth strategy. The company’s board is chaired by Giles Thorley, a veteran of the UK leisure sector and former CEO of Punch Taverns.
Sources within the industry have revealed that several other private equity firms are expected to express their interest in acquiring Zip World. The size of LDC’s stake in the company has not been disclosed, other than being a minority position. A spokesperson for LDC has declined to comment on the matter.
This development marks a significant opportunity for potential investors to be a part of the thriving leisure industry and join forces with a successful and rapidly growing company like Zip World.
