ITC Luxury Travel

Business Description

ITC is an independent, specialist tour operator providing tailored luxury holidays, bespoke trips and experiential tours to niche locations under a range of different brands.

Background

Specialising in luxury, tailor made holidays worldwide since 1974, Chester-based ITC has a large team of travel specialists with an outstanding reputation for customer service.

NorthEdge Investment Rationale

ITC has demonstrated its ability to expand both organically and through acquisition. The company reported turnover of £80m in the year to April 2016 – up from £43m in 2013 – aided by the acquisition of Western and Oriental Travel Ltd in June 2015, which expanded the core luxury beach offering and developed Group-wide expertise in experiential holidays.

Strategy

The firm has invested for a majority stake to support the management team to deliver on planned investment in IT, people, product and customer success.

NorthEdge Managing Partner Ray Stenton led the deal, with support from Director and Head of North West Phil Frame and Director George Potts. Stenton said: “ITC has a clear growth strategy. The investment from NorthEdge will allow the team to invest in the training and development of the sales teams, as well as developing the IT infrastructure to ensure the business can continue to deliver exceptional experiences and market leading service to their customers.”

SectorLeisure
LocationChester
Deal TypeMBO
Investment DateAugust 2016
Employees200
NorthEdge Contacts Keven Parker