UK travel management company Portman Travel has gained a new principal shareholder following Bridgepoint Capital's sale of a portfolio of its investments. Bridgepoint has been the principal investor in the company since 1996, and is now succeeded by Vision Capital. As a result Bridgepoint's Ruth Macintosh has resigned from her position as director of Portman Holdings, to be replaced by Alister Wormsley of Vision Capital.
Wormsley commented on the deal: "Vision Capital specialises in acquiring portfolios of well-established businesses and Portman fits our investment criteria extremely well. Portman Travel is a stable, well run and profitable business with a successful track record of integrating new acquisitions to fuel growth. Vision Capital is backing the existing management team to take Portman to its next stage of development."