Zip World backer LDC plots sale of outdoor adventure parks stake

11 August 2024, 18:06 | Updated: 11 August 2024, 19:21

The private equity backer of Zip World, the operator of the world's fastest zip line ride, is putting its stake in the business up for sale.

Sky News understands that LDC, which is part of Lloyds Banking Group, has appointed corporate financiers at KPMG to oversee an auction.

Zip World operates seven sites in Wales, Cumbria and Manchester, offering activities such as indoor climbing, underground golf and treetop-trekking.

It targets the growing corporate market as well as families.

Zip World sold a stake to LDC in 2018 in a deal which valued the company at £45m.

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Last year, it appointed Andrew Hudson, who had been with the company for five years, as chief executive to drive its growth.

It has been chaired since 2019 by Giles Thorley, a veteran of the UK leisure sector and former boss of the pubs operator Punch Taverns.

Industry sources said other private equity firms were expected to express an interest in bidding for Zip World.

The size of LDC's stake in the company is undisclosed other than being a minority position.

A spokesperson for LDC declined to comment.

(c) Sky News 2024: Zip World backer LDC plots sale of outdoor adventure parks stake