The UK’s largest swimming-lesson franchise has been sold for an undisclosed sum to the former CEO of the Swimming Teacher Association
Founders may have a hard time letting go of businesses that they’ve spent decades building but selling it to someone they trust can ease their worries. So whilst letting Swimtime go will have saddened its co-founders Linda and Barry Price, they’ve found solace in having sold the swimming-lesson franchise to their friend of ten years, Theo Millward.
With six years’ of high-level management experience in the leisure sector, most recently as the CEO of the Swimming Teacher Association, Millward has taken charge of Swimtime's 26 franchise regions after purchasing 100% of the franchise's shares for an undisclosed sum.
“I’m eager to get to grips with the day-to-day running of the company and look forward to meeting all franchisees in the very near future, as well as building relationships with account managers and suppliers,” said Millward. “I have ambitious plans to invest significantly in new operations to help grow Swimtime exponentially over the next five years.”
While Linda and Barry Price no longer run the company that they launched in 1997, the couple will consult the new owner over the transition period, ensuring that Millward doesn’t get thrown in at the deep end.
“[W]e are very proud of what we’ve achieved and will of course be sad to not be a part of the daily running of the business,“ said Linda Price. “However, we’re confident that Theo is the best person to drive Swimtime forward and are pleased to hand over the reins to such an enthusiastic and competent business owner.”
Barry Price added: “We’ve known Theo for over ten years and feel he is the perfect fit for Swimtime. His understanding of the industry […] will be a great asset to franchisees and customers alike. We look forward to seeing the business grow, develop and flourish under his management.”
With more than 300 instructors at his command, Millward is sure to make a splash.