Travel Counsellors, the innovative travel firm, has been taken over in a secondary buyout by the private equity firm Vitruvian Partners.
This acquisition marks a significant step forward for the Manchester-based company, known for enabling 1,800 self-employed travel consultants worldwide.
Founded in 1994, Travel Counsellors has been a pioneering force in the travel industry, headquartered in Manchester. The firm has developed a robust technology platform that empowers independent travel consultants to plan and manage travel itineraries efficiently for both leisure and business clients. Their innovative approach has set a high standard in the travel sector.
Vitruvian Partners is renowned for backing high-growth technology businesses with strong leadership. Their investment in Travel Counsellors reflects a strategic move to enhance the company’s technological framework and extend its global reach. The partners aim to unlock new opportunities in both leisure and corporate travel markets.
Steve Byrne expressed gratitude towards Equistone, the former investment partner, for their role in scaling the business and strengthening its foundation. Byrne believes that this transition sets the stage for an ambitious growth trajectory, supported by Vitruvian’s strategic insights and financial backing.
This strategic move is expected to enhance Travel Counsellors’ operational capabilities and service delivery across its global markets. By integrating Vitruvian’s resources, the company aims to improve customer service and develop new market strategies.
The emphasis will be on ensuring that Travel Counsellors continues to lead with cutting-edge technology, facilitating smarter and more flexible working practices for its consultants. This approach is expected to fortify the company’s competitive position in the travel marketplace.
Vitruvian Partners received advisory services from GCA Altium and Marlborough Partners for corporate finance and debt advisory. Legal and due diligence backing was provided by Mayer Brown, alongside OC&C, FTI Consulting, and CG Consultancy. These partnerships ensured a seamless transition during the buyout process.
As the company strengthens its foothold globally, the emphasis will remain on empowering its consultants and enhancing customer experiences, ensuring that Travel Counsellors remains a leader in the travel industry.
The acquisition of Travel Counsellors by Vitruvian Partners heralds a new era of growth and innovation for the company.
With a focus on technology and global expansion, the firm is set to continue its leadership in the travel sector.