By Guy Taylor
A travel agent responsible for sorting the itineraries of a slew of blockbuster celebrities is up for sale, at a price tag of £100m.
Apiary Capital, the private equity owner of The Appointment Group (TAG), has enlisted investment bankers at Rothschild to explore a sale of the business, the Sunday Times reported.
TAG, a global events and corporate travel management company, books flights and travel arrangements for performing artists ranging from pop stars to comedians.
The company’s roster of famous clientele includes Jay-Z, Justin Bieber, Rihanna, Lady Gaga, the Foo Fighters and Depeche Mode.
London-based Apiary capital snapped up the firm in 2018 from Arrowpoint Capital. The following four years saw revenues grow from £25m to £41m, alongside a sixfold increase in profits.
City sources cited by the Sunday Times said Rothschild would be looking to sell the business for up to 10 times its earnings.
Headquartered in the UK, TAG has over 300 employees in the UK, US Australia and Singapore. It was co-founded in 1988 by John Gianqutto and Maurice Veronique.
It also serves segments of the corporate travel market, including financial services, sports and film sectors, on top of providing event management services.
Apiary and TAG were approached for comment.
