Travel Counsellors gets cash injection to fuel growth plans

Travel Counsellors gets cash injection to fuel growth plans
By admin


Private equity firm, Equistone Partners Europe has invested an undisclosed stake in Travel Counsellors, which the independent travel group says it will use to accelerate growth plans.

Founder David Speakman brought the UK-business to Australia in 2007 and following the deal, will remain as chairman. The company has reported a 60% growth in business over the past five years, and forecasts global sales for FY14 ending Friday at $789 million.

The investment by Equistone is said to facilitate the Management Buy Out of the business, to provide it with a “platform” to fund new activities to further fuel growth in the region.

As part of the deal, Equistone partner Steve O’Hare will join the board of the company as a non-executive director, but the company will retain its existing management team including managing director, Steve Byrne.

“We will use the investment and partnership with Equistone to accelerate our growth and take Travel Counsellors to yet another level. This investment will enable us to capitalise on the many opportunities we have to expand the business further in both leisure and corporate sectors. This expansion will further bolster our global buying power and strengthen our position as the market leading travel company for personal service, to the benefit of our agents globally,” Byrne said.

Travel Counsellors’ 120 travel professionals in Australia are among a 1,300 strong global agency network operating in a further seven countries worldwide. The company’s regional office in Melbourne now has 13 staff. 

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