Commodore International Travel has been bought by the Statesman Travel Group.
Commodore Travel will be rebranded as Statesman Travel, although Commodore’s Masterfare brand will be retained.
The combined business will have revenues of some £100 million and a staff of 150 people.
According to Mervyn Williamson, joint managing director of Statesman, this will put the company in the list of top 10 TMCs in the UK.
“This is a critical next step in Statesman’s ongoing growth,” he said.
All staff members at Commodore will be retained, and they will continue working from their offices in Shaftesbury Avenue, London.
Williamson said: “We are committed to ensuring continuity and will be harnessing the benefits of the enlarged group for our clients. Customer service remains absolutely key to what we do.”
The acquisition has been part-funded by the Business Growth Fund (BGF), an independent investment company set up by Barclays, HSBC, Lloyds, RBS, and Standard Chartered.
As part of the deal, BGF has taken a minority stake in the company, and a BGF representative will sit on Statesman’s board.
www.commodore.co.uk www.statesmantravel.com