Travel Counsellors has announced that Equistone Partners Europe, a mid-market private equity firm, has invested a stake in the independent travel company.
The travel company said the investment will provide it with a platform to grow the firm in both the business and leisure markets. A spokesperson for Travel Counsellors said they could not comment further on details of the deal.
The business will maintain its existing management team including managing director Steve Byrne, who has been with the firm for 10 years, and David Speakman who will remain in his role as chairman.
“We will use the investment and partnership with Equistone to take the Company to yet another level and accelerate our growth, enabling us to capitalise on the many opportunities we have to expand the business further in both leisure and corporate sectors,” said Byrne.
“This expansion will further bolster our global buying power and strengthen our position as the market leading travel company for personal service, to the benefit of our agents globally.”
In September, Travel Counsellors launched a business travel subsidiary aimed at supporting the company’s corporate travel agents and building its business travel team.
‘Travel Counsellors for Business’ has been developed as the TMC has enjoyed strong corporate travel growth, with business travel now representing 25 per cent of Travel Counsellors’ global turnover.
The TMC ranked 20th in BBT’s 2014 list of the 50 Leading TMCs