Leger Shearings Group Chief Executive Liam Race and Chief Financial Officer Andrew Oldfield have taken full ownership of the coach company after completing a management buy-out worth more than £50 million.
The deal gives Liam and Andrew the remaining shares in the the UK’s largest escorted coach tour operator, with continued backing from NatWest.
The pair began their journey to full ownership of the Rotherham-based company in 2019 when they, alongside Chief Product Officer Chris Plummer, acquired a 30% stake in Leger Holidays from Ian Henry, who had led the company for more than 35 years.
In 2020, Leger Holidays acquired the assets of Shearings after the collapse of former owner Specialist Leisure Group, creating Leger Shearings Group.
The trio increased their stake to a majority holding in 2024, when Ian Henry became Non-Executive Chairman.
The latest deal sees Liam and Andrew acquire the remaining shares held by the Henry family.
Ian Henry is leaving the business, while Chris Plummer is retiring from the group after 20 years. The new owners Liam and Andrew paid tribute to both Ian and Chris, crediting them with playing a key role in the group’s growth.
The group has more than doubled in size since the first management buy-out in 2019. The acquisition of Shearings drove much of that growth, while the 2022 acquisition of Arena Travel expanded its specialist-interest offering.
Leger Shearings Group has now recorded 20 consecutive months of growth, reporting that sales and forward bookings are both ahead of any previous year at this stage.
Liam and Andrew will now focus on the ‘premiumisation of the Leger brand’, including the launch of Lumina, the group’s new flagship touring experience, which will make its first departure in April 2027.
Chief Executive Liam Race said: “This is a hugely proud moment for Andy and me, and the natural next step in a journey we started in 2019. Ian built something remarkable over more than 30 years and taking full ownership of Leger Shearings Group is both a privilege and a responsibility we don’t take lightly.
“The business is in the strongest shape it has ever been. We’ve delivered 20 consecutive months of growth, forward bookings are ahead of where we have ever been at this point, and we have ambitious plans to build on that. We’re premiumising the Leger brand, and our new flagship experience, Lumina, sets off on its first departures this April, with more exciting developments still to come. Through all of it our focus stays exactly where it has always been — on the customer, and on the repeat business that great service earns us.”
Chief Financial Officer Andrew Oldfield added: “Completing this buy-out puts the business on the firmest footing it has ever had, and we’re doing it from a position of real strength — record forward bookings, sustained growth and the continued backing of NatWest, who have been alongside us every step of the way.
“It gives Liam and me the platform to keep investing in our product, our brand and our people, and to pursue the growth opportunities we can clearly see ahead.”
