Zip World Stake Up for Sale as Private Equity Firm Seeks Bidders

LDC, the private equity backer of Zip World, known for operating the world's fastest zip line, is putting its stake in the company up for sale. According to Sky News, LDC, a subsidiary of Lloyds Banking Group, has engaged KPMG to manage the auction process. The company aims to attract interest from both the corporate sector and families, highlighting its diverse market appeal. LDC initially invested in Zip World in 2018, valuing the company at £45 million at that time. Since then, Zip World has focused on expanding its offerings and enhancing its brand presence. In a strategic move to drive growth, Andrew Hudson was appointed as chief executive last year, bringing five years of experience within the company. The firm has been under the chairmanship of Giles Thorley since 2019, who has a notable background in the UK leisure industry. Industry insiders anticipate that other private equity firms will likely show interest in bidding for Zip World, given its unique market position and growth potential. However, the exact size of LDC's stake remains undisclosed, with reports indicating it is a minority position. A spokesperson for LDC has refrained from commenting on the sale process. As the auction unfolds, the future of Zip World and its potential new investors will be closely watched by industry stakeholders and enthusiasts alike.