Capita Group acquires BSI for £42.5m

The Capita Group has acquired BSI for £42.5m as part of a plan to create a larger-scale business combining accommodation, events management and travel management.

BSI acquired by Capita Group
BSI acquired by Capita Group

BSI will combine with Capita Business Travel in a move that will see the agency’s managing director Trevor Elswood head up the new business.

Outsourcing company Capita Group has a £2.7bn turnover in 2009 across its divisions, and employs 36,800 staff. Its Capita Business Travel division was founded in 1973.

Travel management

Capita Group’s business director for travel and conferences James Parkhouse said: "As a result of the acquisition we will have the ability to continue to offer both leading specialist offerings in each travel area, as well as combining these into an exciting and unique travel management company proposition to the UK corporate and public sector."

BSI – which took over Olive 360 in 2007 – already works with Capita Business Travel with some mutual clients.

Confidence in the sector

Parkhouse added: "It is also extremely positive news in terms of a FTSE100 company’s significant, and continuing, investment in the travel industry illustrating great confidence in the sector."

Both agencies are on the government’s Buying Solutions framework.

Market leverage

BSI managing director Trevor Elswood said: "The acquisition will expand not only the service offering to our customers but delivers significant market leverage from additional scale which will benefit current and future customers alike.  We currently work with Capita Business Travel across a number of mutual customers to offer a seamless travel service and the strong overlap in both company cultures and values has been openly recognised by these customers, and underpins our vision for the future of fully integrated specialist services."

Collaborative approach

Elswood added the agencies would be taking a "collaborative approach from day one". The deal was completed on 22 December.

Read C&IT's analysis of the mergers and acquisitions market in the events industry.

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