Buyout firms play TAG with £150m travel agent to the stars | BusinessNews

A pack of leading private equity firms are circling TAG, a travel agent which organizes the itineraries of pop stars such as Lady Gaga and Rihanna.

Sky News understands that ECI Partners and Livingbridge are among the suitors pursuing the company.

The auction, which is being run by bankers at Rothschild, is now in its second round.

Equistone, another prominent private equity firm, has also reportedly tabled an offer.

Formerly known as The Appointment Group, TAG has become a favorite choice for celebrities making travel arrangements for themselves and their entourages.

The company was founded by John Gianquitto and Maurice Veronique in 1988, and now employs more than 300 people.

Three decades later, a majority stake in the company was sold to Apiary Capital, a private equity firm.

Its other publicly disclosed clients have included Depeche Mode, Foo Fighters and Jay-Z.

Travel industry insiders say the company could now be valued at roughly £150m, although the level at which offers were being pitched was unclear.

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None of those contacted by Sky News would comment, or respond, on Wednesday.