Since its earliest days of consultancy in 2020, the Firebird Partnership’s mission has been to support travel business owners; initially helping their clients survive the challenges of the pandemic and now working alongside them to secure sustainable growth, raise investment and facilitate successful exits. Along the way the team itself has grown, from founding partners Ian Finlay and Stewart Lambert, to an expert team of directors with extensive travel and business experience.
Over the course of its first six years, Firebird has worked on larger transactions for SMEs – most recently completing the sale of One Traveller, which was led by corporate finance specialist Lambert. Other recent successes include the sales of Distant Journeys and Travel Editions, along with the management buyouts (MBOs) of Artisan and Expert Africa.
However, in response to trends the team have observed around smaller-sized travel businesses, they’ve now recruited a new specialist director, to ensure that even the smallest TOs have access to high-quality advice.
Caleb Lewington will bring his financial expertise to Firebird clients present and future, working closely with Lambert on all corporate finance and exits. It’s not the first time the pair have worked together: Lewington’s completed deals include the Specialist Journeys MBO and the sale of Dream Challenges (formerly Action for Charity). At Firebird he will draw on this, along with decades of experience in sectors spanning travel and leisure, support services and technology. As part of that he has developed a close understanding of specialist tour operators, travel agents and travel tech providers on both sell- and buy-side mandates.
For the partnership, there’s never been a better time. As Finlay explained, ‘For a while now we’ve been concerned that smaller travel business are getting no advice or bad advice: signing up to brokers or non-specialist advisors, paying a retainer and then never achieving an exit. In fact, successful exits from some of these advisors can amount to less than 10% of the deal mandates they sign up.
‘We reflected on why we set up Firebird during Covid,’ Finlay continued. ‘It was to help businesses and founders in the sector that we knew and loved. By leaving those founders to work with those brokers and poor advisors, we felt we were letting them down and failing in our mission. That’s why we’ve recruited Caleb.’
Lambert added, ‘Caleb’s arrival means we can now support the smallest tour providers upwards, expanding the breadth, depth and complexity of transactions we offer. I know that our current and future clients will massively appreciate his hands-on, meticulous approach.’
Any owners and founders who want to learn more, or discuss their plans with the partnership, can explore the Firebird website at www.firebirdpartnership.com or email Ian Finlay directly.