NT News

Skydiving operator in $55m bid to take to trees

- LISA ALLEN

ADVENTURE tourism operator, Experience Co, known for its large skydiving operations across Australia and New Zealand, is raising up to $55m to acquire a zip lining group as well as other domestic businesses.

With 14 parks across Australia in most states, Trees Adventure, an operator of treetop and aerial ziplines, will be expanded under the new ownership of Experience Co, headed by John O’Sullivan, former boss of Tourism Australia.

“This business is very resilient to Covid, the activities are outdoors, and they are not reliant on interstate or internatio­nal visitors,” Mr O’Sullivan said. “It has been trading quite well, despite Covid.” He said Trees Adventure’s earnings before interest, tax, depreciati­on and amortisati­on for the 2021 financial year was $6.6m.

Experience Co will use the $55m to fund the $46.9m Trees Adventure deal plus other potential acquisitio­ns.

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