Staff buyout at Alfa Leisureplex Group

Lloyds Bank Commercial Banking has funded an employee-backed buyout of Chorley-based Leisureplex Hotels and coach holiday group Alfa Travel in a deal that sees the business become controlled by its workforce.

Founder and finance director, Peter Sawbridge, will become a non-executive director. Current financial controller, Emma Russell, will assume financial director responsibility. Paul Sawbridge, managing director, will become non-executive chairman of the new company and a trustee of the employee trust.

Its sister company, Alfa Travel, is one of the UK’s leading coach and tour operators specialising in coach tours and short holidays to destinations in the UK, Ireland and Western Europe. It operates 46 coaches and sells more than 100,000 holidays per annum.

"We believe making our colleagues owners will further empower them to deliver the outstanding quality of service for which our hotels and holidays are already well known. This will ensure the continued development of Alfa Leisureplex Group as a successful, independent and ambitious travel and leisure company. With ongoing investment in our hotel and coach facilities, we are firmly focused on plans to grow organically throughout the UK.”