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Travel management firm Reed & Mackay has been sold to private equity firm Inflexion.
The London-based TMC has been sold by previous private equity owners ECI Partners and Livingbridge. Terms of the deal were not disclosed.
Reed & Mackay, which specialises in the legal, insurance, finance and energy sectors, also has offices in Scotland, US and United Arab Emirates and handled 600,000 client travel transactions in the 12 months to March 2016.
Simon Turner, managing partner at Inflexion, said: “We’re delighted to be investing in Reed & Mackay and working alongside its ambitious team to support the next phase of growth, both in the UK and overseas markets.
“Reed & Mackay is a classic Inflexion investment; great team, superior technology platform and superior service driving exceptional growth.
“We bring experience from across the travel sector both with consumer brands, Scott Dunn and On the Beach, where bespoke technology also played a significant part in growth and differentiation, and corporate travel through Griffin Global Group, all successful multi-national businesses.”
ECI originally invested in Reed & Mackay in 2011 and over this period the TMC’s client base has increased by 68 per cent to around 500.
Fred Stratford, CEO at Reed & Mackay said: “It has been an enjoyable and rewarding few years working with ECI and Livingbridge to help strengthen Reed & Mackay’s international footprint and to develop the value proposition in line with client demand.”