The founders of London’s Big Bus Tours open-top sightseeing company will get a cash windfall of almost £300m if a private equity firm goes ahead with a deal to purchase the family business, This is Money reported.
Exponent is reportedly in ‘exclusive’ discussions to buy Big Bus Tours from the Maybury family for up to £400m. A deal could be announced in the next few weeks.
The company hired JPMorgan last year to find a buyer for the business. Big Bus Tours was founded in 1991 by Richard, Desmond and Eleanor Maybury.
The Mayburys started out with just a few buses. Since then the company has grown rapidly and in 2011 it merged with French rival Les Cars Rouges. Big Bus Tours now has more than 300 buses in cities across the globe.
The Mayburys are not the only investors likely to pocket huge payouts. In 2007, Abu Dhabi-based Al Fahim Group bought a 30% stake from the family.
