London-based event management consultancy Olive 360 has today been acquired by European corporate accommodation and conference management organisation BSI Group for an undisclosed sum, in a deal supported by the Royal Bank of Scotland.
The purchase is the latest move in BSI’s five-year strategy to develop “a totally integrated service for clients, which can cater for all aspects related to booking and buying accommodation for business travellers and space for corporate meetings, conferences and events”.
Launched in 1997, Olive 360 has a client base which includes AT&T, Watson Wyatt, Rymans and the Home Office. Founder and chief executive Sarah Jones will remain as the head of the business following the acquisition. The existing brand and identity will be retained and the company will continue to operate as usual, equipped with its full team of 22 staff. According to a statement from the company, no changes to Olive 360’s structure, location or client offer are planned for the foreseeable future.
Commenting on the acquisition, Sarah Jones, said: “Olive 360 is a perfect fit for the BSI Group. This acquisition brings together two dynamic established brands with great reputations that are leading the way in both the accommodation booking and MICE arenas. The pace of the growth for the events market is astonishing, but this dynamic presents its own pressures on small businesses like us who wish to maintain long-term competitiveness and presence. Via BSI, we will gain substantial operational cost-efficiencies which will enable us to continue to expand and impact the future direction of the market while maximising our profitability.”
Charles Cockell, group managing director at BSI added: “Olive 360 adds another core string to BSI Group’s bow, and firmly establishes our footprint in the event management arena, enabling us to offer clients a total service. Sarah Jones and the team at Olive 360 inject niche market expertise and vision, which will be immensely valuable to our ongoing success. Olive 360 is a strong, reputable business, and with the buying power of BSI, there is a major opportunity to grow and bring a new era to the market.
“We know that there are major synergies to be gained between a client’s accommodation space and MICE purchasing requirements, and are focused on combining both areas into one holistic service offer that sets a precedent. As the industry continues to consolidate, BSI is strongly establishing itself as one of the major players in the MICE and business travel world. Through this acquisition and our own organic development, BSI is in a very positive position to continue managed growth.”
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