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3i to receive c. £102m cash from Audley Travel and Hans Anders

3i-backed Audley Travel (“Audley”) and Hans Anders to return c. £102m in cash to 3i Group plc (“3i Group”).

Audley, a leading provider of tailor-made experiential travel, has completed a dividend recapitalisation. 3i Group will receive £67m from this transaction, which together with the shareholder distribution 12 months ago, takes total cash return to date to 3i Group to £93m, equivalent to 0.6x its original investment. For the £67m received from this transaction, it is expected that £18m will be treated as income and the remaining balance as capital proceeds.

3i Group invested in Audley in 2015 to build on its market-leading UK presence and support international growth, particularly in the US, where Audley has seen a 5x increase in bookings over the last 4 years.

Following its acquisition of eyes + more in January 2019, Hans Anders, a market leading, value-formoney optical retailer in North-West Europe has also completed a refinancing. 3i Group will receive €42m (£35m1), which will be treated as a partial return of its investment in Hans Anders.

3i Group invested in Hans Anders in 2017. The fragmented European optical retail market presents significant growth opportunities for Hans Anders.

 

1 Based on a GBPEUR FX rate of 1.19

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For further information, contact:
3i Group plc

Silvia Santoro
Shareholder enquiries

Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Kathryn van der Kroft
Media enquiries

 

Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

 

Notes to editors

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About Audley Travel

Audley is a leading provider of tailor-made experiential travel to over 80 destinations worldwide. Serving clients predominantly in the UK and US, Audley is renowned for its superior customer service and in-depth destination expertise delivered by its country specialists. For more information, please visit www.audleytravel.com

About Hans Anders

Founded in 1982 and headquartered in the Netherlands, Hans Anders is a market leading, value-formoney optical retailer in North-West Europe. The company operates under the Hans Anders, eyes + more and Direkt Optik retail banners, and offers a range of private label and branded spectacles, hearing aids, contact lenses and sunglasses at average price points significantly below its major competitors. For more information, please visit www.hansanders.nl  

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