COMMODORE INTERNATIONAL TRAVEL has been bought by the Statesman Travel Group.
The company will trade 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 travel management companies (TMCs) in the UK. “This is a critical next step in Statesman’s ongoing growth,” he said.
All staff members at Commodore are being retained, and will continue working from their offices in London’s Shaftesbury Avenue.
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, the BGF has taken a minority stake in the company, and one of its representatives will sit on Statesman’s board.