Ropes & Gray Leads On Transatlantic Private Equity Deal
The deal sees Great Rail Journeys, a subsidiary of U.K. private equity firm Duke Street, acquire U.S.-based Vacations By Rail.
August 21, 2019 at 03:50 AM
2 minute read
Credit: Pixabay
Ropes & Gray is advising British private equity firm Duke Street on its transatlantic acquisition of U.S. rail holiday provider Vacations By Rail.
The deal will see Duke Street-owned Great Rail Journeys (GRJ), which is based in York, acquire Chicago-based Vacations By Rail for an undisclosed sum.
It is the second major deal for Ropes & Gray involving GRJ, with the firm having advised on Duke Street's original acquisition of GRJ last year.
Private equity partner Philip Sanderson and finance partner Malcolm Hitching led the Ropes & Gray team advising Duke Street, which also included U.S. and London tax partners, David Saltzman and Brenda Coleman, and benefits partner Adam Stella.
Duke Street has in the past turned to U.K. firms including legacy Wragge & Co – now part of Gowling WLG.
Vacations By Rail was advised by Chicago law firm Williams, Bax and Saltzman, according to a person with knowledge of the deal.
GRJ, which was founded in 1980, offers almost 400 itineraries across more than 50 countries. The company expects the latest expansion to provide customers with a broader portfolio of rail itineraries and holidays to customers across the U.K. and the U.S.
Vacations By Rail was founded in 2004, according to the firm's LinkedIn profile, and provides rail tours, tickets and holidays across predominantly North America and Europe.
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