ETW Staff– Mumbai
Leading global travel management and events business the ATPI Group has announced the purchase of international travel company Griffin. The acquisition is the second major purchase for the ATPI Group in less than 12 months. In January 2014 the Group bought Australia’s largest independent travel management company, Voyager Travel.
The purchase of Griffin, for an undisclosed sum, which has an international operation of wholly owned offices in 13 countries and joint ventures in a further nine, increases the ATPI Group’s global office footprint to over 100 locations around the world.
Graham Ramsey, chief executive officer, the ATPI Group, said, “In 2013 the ATPI Group business delivered gross sales of over £720 million, and achieved its third successful MBO deal in six years. With the acquisition of Griffin, coupled with our significant business growth, in 2014 this will reach in excess of £1.2 billion. We made it clear that our refinancing was in order to grow through investment and acquisitions. I am pleased to deliver, with the support of ICG, yet another significant growth milestone for the business with the purchase of Griffin. This deal is a major step forward in our plan to increase our global operation, and enhances the unrivalled service that clients of the business already enjoy. The clients of Griffin will benefit from ATPI’s bespoke technology, purchasing power and seamless service around the world.”
Simon Morse, chairman, Griffin, said, “The sale of Griffin provides great opportunities for our people and clients. We are proud that our network of 33 offices are highly attractive to the business activities and strategic objectives of the ATPI Group. We look forward to the exciting opportunities that this deal brings for our collective organisations.”
Commenting on ATPI’s acquisition of Griffin, Matthew Robinson, investment director, ICG said, “ICG is pleased to continue to support the growth of ATPI with the acquisition of Griffin. This transaction enables the business to further extend its global service capability whilst still providing clients with a strong local customer service proposition. The group will have a truly global footprint; managing complex travel needs cost effectively.”