EMC Corporate Finance has acted as Lead Adviser to Ickenham Travel Group plc on the sale of Business Travel Direct to Global Travel Management Company, Reed & Mackay.
Both businesses have grown over the last two years and enjoy enviable client and employee retention. The businesses are closely aligned in terms of industry sectors and a client-first mindset.
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Peter Reglar, CEO, Ickenham Travel Group “After 49 years with this amazing business and team, this is now a fantastic opportunity for our clients, colleagues and partners, and brings with it a range of additional benefits. ITG will continue to invest in our award winning retail travel brand, LetsGo2, and Julie Oliver and the Team at Business Travel Direct can enjoy the backing of a truly global TMC”
Reglar added “Michael Pay of EMC led the transaction from start to finish, overseeing complex negotiations that resulted in a great outcome for both parties. Having had Michael act on the other side when we acquired Timely last year, we experienced the skill, dedication and knowledge that he brings to a transaction, without whom the delicate steps in closing a deal would be far tougher!”
Fred Stratford, Group CEO, Reed & Mackay, commented “I have great admiration for Peter Reglar, Julie Oliver and the wider management team and am delighted to be joining forces. Business Travel Direct will continue to operate as a key division of Reed & Mackay under Julie’s leadership. I am very pleased to welcome Julie and her team to Reed & Mackay”.
Michael Pay, Director, EMC said “It has been a pleasure working for Ickenham with Reed & Mackay. Peter is a spirited entrepreneur who built the original retail business on the back of an estate agency, before turning to the corporate sector and then back to capitalising on the growth in online leisure with Letsgo2. BTD had a lot of interest but the team at Reed & Mackay delivered all the way through and were great to work opposite.”