Private equity investors Altor, Strawberry and TDR are exiting Nordic Leisure Travel Group, selling the business to Norwegian Air Shuttle. The deal involves NLTG's portfolio of 26 hotels across Spain, Greece, Cyprus, Thailand and Türkiye, though financial terms remain undisclosed.

BDO's Nate Collins, managing principal on the Transaction Advisory Services Tax team, notes that deal teams frequently overlook tax strategy opportunities. While private equity firms rely on service providers to complete transactions, tax preparation often becomes an afterthought rather than a strategic advantage.

Nordic Leisure Travel operates in popular vacation destinations, suggesting the combined entity with Norwegian Air could create integrated travel offerings. The exit represents typical private equity activity where investors realize gains after building portfolio companies.

The transaction highlights how travel and hospitality assets continue attracting consolidation interest despite market volatility. Collins' observation about underutilized tax strategies suggests investors may be leaving value on the table during deal negotiations.