Advanced Travel buys back control

Agency giant the Advanced Travel Partner has completed a £41m management buyout, with a view to regaining control from its Dutch majority shareholder Archand and enhancing its global offering. One-third of the sum was raised from investment firm Lloyds TSB Development Capital, which invested £16m. The remainder was sourced from a combination of debt equity and management funding. The Advanced Travel Partner has seen its sales and profits grow over the past four years, and has netted revenues in excess of £370m under the ownership of Archand, a subsidiary of Dutch investment group Reggeborgh. The buyout was led by senior management group chief executive Graham Ramsey and commercial and operations executive John Jansen, both of whom aim to drive the agency’s recent growth. "Our focus on providing high-quality customer service backed by market-leading technology has enabled the business to generate significant customer loyalty and grow revenues consistently in recent years," said Jansen. They have appointed a board comprising Laterooms.com non-executive chairman John Donaldson and Lloyds TSB Development Capital investment directors Ray Stenton and Jonathan Bell. The Advanced Travel Partner has offices in UK, Netherlands, Belgium, France, Norway and the US and its clients include Heineken, ABTA, for whom it organises the annual conference, and a growing customer base in sectors including oil and gas, financial and legal services, retail, sports and government. The UK office was founded in 2000. The Advanced Travel Partner head of marketing Jeremy King said that there were yet to be any management changes.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Deadline extended for the C&IT Awards Americas

Deadline extended for the C&IT Awards Americas

As C&IT expands its reach globally, we've launched the C&IT Awards Americas to recognise the best in US events.

Unicorn Events closes due to COVID-19 challenges

Unicorn Events closes due to COVID-19 challenges

Agency MD Hannah Luffman says the business will close while it is still possible to pay staff in full.

How the UK government is supporting the hospitality and events sector

How the UK government is supporting the hospitality and events sector

Suggestions of an extended lockdown period are adding pressure to the events sector, says University of Derby's Brendan Moffett.

LIVE UPDATES: Cannes Lions goes from postponed to cancelled

LIVE UPDATES: Cannes Lions goes from postponed to cancelled

All the latest postponements and cancellations as the world deals with the spread of coronavirus.

Furlough: The new F-word

Furlough: The new F-word

Recently furloughed creative director Dave Leong explains the thinking that’s helping him navigate tricky times.

‘Virtual event providers have been opportunistic’

‘Virtual event providers have been opportunistic’

Think carefully about going virtual if your event can be postponed to later in the year, says Shaumik Saha from Stride Plus Events.

Events company helps build temporary hospital in Berlin

Events company helps build temporary hospital in Berlin

PRG's teams in Germany and the US are supporting health workers on the frontline in the fight against COVID-19.

How venues can rise to the challenge of coronavirus

How venues can rise to the challenge of coronavirus

Be flexible with your payment terms or cancellation policies, says Katie Roberts at National Museums Liverpool.

Dear C&IT: Mental health first-aiders could help events staff in need

Dear C&IT: Mental health first-aiders could help events staff in need

Two readers call for a greater focus on mental wellbeing in the events industry.

Zoom responds to privacy and security concerns

Zoom responds to privacy and security concerns

The video conferencing app is under scrutiny as its popularity surges during the coronavirus pandemic.