Three top executives at Leger Shearings Group have increased their ownership, becoming majority stakeholders.
- Liam Race, Andrew Oldfield, and Chris Plummer now hold the controlling stake after buying shares from Ian and Kathleen Henry.
- The business has more than doubled in size since 2019, thanks to strategic acquisitions and effective management.
- Leger Shearings plans to continue expanding with ambitious revenue targets and new offerings.
- The company has undergone significant digital transformation, maintaining a strong focus on customer satisfaction.
In a significant corporate shift, the Leger Shearings Group sees its top executives, Liam Race, Andrew Oldfield, and Chris Plummer, becoming majority shareholders after a major purchase of shares. This transition follows their initial acquisition of a 30% stake in 2019 through a management buyout, marking a new chapter in the company’s evolution.
Ian Henry, who had led the company for over three decades, and Kathleen Henry have reduced their holdings, moving into minority positions. Ian Henry remains connected to the company, taking on the role of non-executive chairman—a move that ensures a degree of continuity and advisory expertise within the boardroom.
The company’s growth trajectory has been impressive post-MBO, with notable acquisitions such as Shearings in 2020, which significantly boosted its market position and prompted a rebranding to Leger Shearings Group. The purchase of Arena Travel in 2022 further diversified their offerings, particularly appealing to niche markets through brands like Stitchtopia and First for Bridge.
Liam Race expressed enthusiasm about the current state and future prospects of Leger Shearings Group, highlighting their status as the largest escorted coach tour operator in the UK. The acquisition of Shearings was a strategic move, credited with generating consistent profit growth even during the challenging post-pandemic period. Race forecasts another record-breaking profit year in 2024.
The executive team is focused on ambitious revenue goals, with new offerings such as the UK Direct Route Mini Breaks already proving successful. River cruising is identified as another promising growth area. The team hints at substantial developments in the pipeline for the Shearings brand, which could further enhance their service portfolio.
Since 2019, the company has embraced a digital transformation strategy, integrating advanced technologies like an artificial intelligence platform in their customer service operations. Nevertheless, they maintain a strong emphasis on customer satisfaction, which has been key to their success and accounts for high customer retention and forward revenue projections.
The management’s vision for future growth is supported by NatWest, which provided substantial financial backing for the recent share acquisition. The banking institution’s relationship director, Andy Croasdell, expressed confidence in the company’s trajectory, noting their adept management throughout the pandemic and their strategic plans for continued expansion. He reaffirmed NatWest’s commitment to supporting Leger Shearings Group as they explore further opportunities in the market.
With strategic leadership and robust financial backing, Leger Shearings Group is poised for continued success and growth in the travel industry.
