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Market and Sector Type:: Travel

Corporate travel group expands

Article Date: Apr 21 2009

ATP International, a corporate travel company backed by Barclays Private Equity, has acquired marine fares specialist Instone International.

The joint turnover of the two UK-based companies is expected to be €750 million (£670 million).

Graham Ramsey, the chief executive of ATP who led management buy-outs of the company in 2003 and 2008, says both organisations ‘will benefit substantially from wider service opportunities and a substantially increased global footprint’.

The combined group will have branches in 20 countries plus a worldwide partner network.

ATP acquired 100 per cent of Instone’s share capital in a deal supported by Barclays Private Equity as well as banks Lloyds TSB and ING. Advisers to the deal were Deloitte and Addelshaw Goodard.

Instone reported sales of €175 last year with ATP achieving revenues of €585 million.

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Corporate travel group expands

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