Cox & Kings (India) has entered into an agreement to sell its education business to Midlothian Capital Partners (MCP), a leading UK-based investor for all-cash enterprise value of GBP 467 million.
The education business is comprised of HB Education (formerly known as Holidaybreak Education) which is a wholly owned subsidiary of Holidaybreak. The sale is in line with the company's stated goal of unlocking value and maximizing shareholder returns.
HB Education provides experiential learning programmes for students, through Residential Activity Centres and Educational Travel Tours. Its programmes are curriculum-linked and enable teachers to reinforce students' knowledge and understanding as well as develop students' resilience, confidence and interpersonal skills.
Cox and Kings is engaged in providing travel management solutions. Its services include destination management, outbound tourism, business travel, insurance and conference solutions. The firm also offers domestic holidays, trade fairs, foreign exchange and insurance.
