Travel Agents

Travel Counsellors secure secondary buy-out

Travel Counsellors has announced that Vitruvian Partners have backed the company in a secondary management buyout from Equistone Partners Europe.

Vitruvian, an independent private equity firm, initially backed a management buyout of Travel Counsellors, led by CEO Steve Bryne back in 2014. Since then the business has experienced rapid growth.

Statutory turnover and profit have also seen strong growth over the period, growing by an average of 17 per cent and over 20 per cent per annum respectively.

“Steve O’Hare [Senior Partner at Equistone Partners Europe] and Equistone have been integral to our recent success, helping us to scale the business, strengthen the leadership team and invest in the technology and support we provide to our franchisees and colleagues,” Steve Byrne, Chief Executive at Travel Counsellors, said.

“We will always be grateful to them for the support and care they have shown the business, the people in it and the investments they have made in us.”

“The fact that we have secured a secondary buy-out is testimony to the confidence in the long term growth prospects and plans for the company.”

Equistone has invested significantly to help TC’s world-class booking platform, Phenix, achieve rapid growth and scale globally.

“We are excited to announce our investment in Travel Counsellors,” Ben Johnson, Partner at Vitruvian Partners said.

“It is a business with a unique culture and reputation and high standing in the travel industry. We believe in its focus on empowering its Travel Counsellors to work flexibly and smarter using the company’s propriety technology.”

“We only back exceptional high growth technology-enabled businesses with stable, proven leadership teams. We are proud to back the business and just want to help it grow and be even more successful.”

Vitruvian Partners, which has previously backed travel businesses Skyscanner, JacTravel and OAG, as well as a number of technology-enabled marketplaces including listed technology company Just Eat, will continue to invest in and build on Travel Counsellors’ success bringing its wide sector and technology experience together with the company’s differentiated business model and culture.



SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Cruise

Tourists stranded as Europe’s rivers continue to drop

Water levels across Europe’s rivers continue to plague cruise operators with reports of marooned boats on the Doubs River.

Share

CommentComments

Hotels

Midweek Interview

Midweek catch-up with Italian hotelier Gai Quartucci

This week, we sat down with Gai Quartucci, global sales and marketing director for part of the Small Luxury Hotels of the world group.

Share

CommentComments

Travel Agents

Malaysia Airlines launches free trip incentive for agents

This incentive is like a buy one, get one free, except instead of buying something, you’ve got to sell airfares… which is likely your job anyway so win-win.

Share

CommentComments

Hotels

Ennismore to bring four new lifestyle hotels to NZ

Accor’s quirky stepchild is spreading its wings across the Pacific with four new signings in New Zealand.

Share

CommentComments

Events

Missed the Visit USA Expos? Fear not, we’ve got your biggest questions covered.

by sponsored by Visit USA Australia

No more FOMO! These hot tips will get you in top-tip shape to visit the USA.

Share

CommentComments

Aviation

Jetstar launches Sunny Coast sale with fares cheaper than a tank of petrol

With prices this low, Jetstar will have to steal Bunnings’ famous tagline. Hopefully they’ll start hosting sausage sizzles as well.

Share

CommentComments

Hotels

Hotel Review: La Sultana is an oasis among the chaos of Marrakech

by Nancy Hromin

A peaceful hideaway right in the centre of the Medina’s hustle and bustle, La Sultana is an oasis among the chaos of Marrakech – a chaos we absolutely loved.

Share

CommentComments

News

Aussie travel start-up Ok Away partners with Air Doctor

While it is a cool name, Ok Away also sounds like a good way to end a sentence with someone you wish would leave you alone.

Share

CommentComments

Aviation

“It’s a shocking insult”: Qantas slammed for asking execs to work as baggage handlers

The bags on your next flight may be handled by Alan Joyce, which may or may not be a good thing depending on your confidence in his ability to fling around 30 kg bags.

Share

CommentComments

Destinations

Travellers warned over bomb threats against Moldova’s international airport

The government’s travel alert website is advising Aussies to reconsider their need to travel to Moldova, which, given the bomb threats, is probably sound advice.

Share

CommentComments

Cruise

Intrepid launches citizen science programs in Antarctica

Believe it or not, there is more than one program about understanding phytoplankton (which are a lot more important than you would think)!

Share

CommentComments

Hotels

IHG celebrates 60 years with big surprises + Tim Tam cake

The brand is celebrating its Diamond anniversary with a series of events and surprises for guests, but honestly, they had us at “Tim Tam”.

Share

CommentComments