MK law firm successfully acts in another acquisition

Howes Percival has acted for the purchaser in a deal that sees a much-loved Norfolk Broads company change hands.

The Wroxham based company, which trades under the names of Broads Tours and Norfolk Broads Direct, is one of the largest providers of river trips, boating holidays and boat hire on the Norfolk Broads. The business has been run very successfully over the last 17 seasons by Paul and Barbara Greasley, who have agreed to sell the business back to Len Funnell, through his company Craft Leisure Limited - from whom they bought it 16 years ago.

Len, who was recently honoured as the inaugural winner of Hoseasons’ Outstanding Contribution to UK Tourism Award, and his wife Hazel first acquired Broads Tours almost 40 years ago, along with the Faircraft and Loynes holiday cruiser companies. They spent over 20 years developing and improving every aspect of the businesses, creating one of the premier holiday operations on the Broads, before retiring for the first time in 2003.

Their daughter, Ruth, and son-in-law James will help run the business going forward. James and Ruth have developed and run Waveney River Centre at Burgh St Peter for the last 16 years, winning numerous awards for sustainable tourism and customer care.

Howes Percival’s Richard Turner (Corporate) and Joanna Nicholls (Commercial Property) advised Craft Leisure Limited.

Richard Turner commented: “It was a real pleasure to act for our client on this transaction and to assist them in the purchase of a very well-respected and successful business.”

Joanna Nicholls added: “Howes Percival are Leisure and Tourism specialists and the firm has long been associated with the sector and the Broads businesses especially. It is great to be part of the team that managed the transaction and we wish both parties well with their plans for the future.”