Law firm Muckle advises Hays in Freedom Direct acquisition

May 13 2009 by Peter McCusker, The Journal

NORTH EAST commercial law firm Muckle has advised the UK’s largest independent travel agent, Hays Travel, over the purchase of the Freedom Direct Holidays business.

The team at Muckle, which has a longstanding relationship with Sunderland company Hays Travel and has advised it on acquisitions and developments in the past, was led by partners Robert Phillips and Stephen McNicol with assistant Vicky Hewison.

Partner Robert Phillips said: “We have acted on behalf of Hays Travel for a number of years and opted to bring in Steve and Vicky to complete this deal due to their specialist expertise – both have been have extensively involved in the firm’s recent work with company turnarounds and purchases from administrators.

“Hays Travel is a business which is used to moving quickly, because of the fast paced nature of the travel industry.

“It was interested in purchasing the remaining assets of Freedom Direct Holidays – mainly the intellectual property including customer database and bookings and web addresses – so we advised John Hays and the board from a legal perspective, whilst liaising with administrators of Freedom Direct Holidays, RMT, on the deal to get all the details agreed.”

Muckle has also recently worked on distressed mergers and acquisitions including The Officer’s Club, Villa Soft Drinks, Widney Pressings and Phoenix Hasmat. Mr Phillips said: “Hays Travel is a strong regional business with a track record of success and has been able to partially keep alive another North East brand which had historically been successful – and save a number of jobs in the process.

“In addition to its strong M&A base Muckle LLP has demonstrated its ability to adapt quickly to recent market trends and has developed extensive experience in this area, further illustrating its reputation for deal delivery, a core strength of the firm and for delivering service excellence to our clients on a daily basis.”

Hays employs more than 800 people in the North East. It has already helped rebook more than 4,000 customers of Newcastle company Freedom Direct Holidays, which collapsed last month.

Hays Travel is used to moving quickly, because of the fast paced nature of the travel industry.