ITC Luxury Travel Management Buy Out

  ITC Luxury Travel Management Buy Out

Business Wire

LONDON -- August 7, 2014

Jennifer Atkinson, CEO of ITC Luxury Travel, the UK’s leading independent
luxury tour operator, today announced that she has completed a management
buy-out of ITC, backed by Paul Pindar, with banking provided by Santander.
Pindar, the former CEO of Capita, has been appointed Chairman of the new
parent company of ITC, The Luxury Travel Group. Pindar spent 26 years at
Capita, building it into a £7.5bn FTSE 100 company.

ITC Luxury Travel is one of the UK’s longest established independent, luxury
tour operators with revenue of over £47m. Over the past 40 years, they have
amassed a wealth of experience and knowledge and have become synonymous with
providing clients with exceptional service from their first conversation with
a dedicated Travel Specialist through to the Concierge team who ensure every
aspect of a client’s holiday is exclusively commissioned for them. With its
continued focus on people, the company made it onto the Top 100 Small Company
to Work For list for the third year running in 2014.

The company remains 100% British owned with June Foster, of the original
founding family, retaining a shareholding alongside other members of the ITC
management team. The family style ethos of the company will be retained with
its focus on values, partnership and people at the heart of what it does. The
strategy moving forward will be to create organic growth through significant
investment in people and systems together with the targeted acquisition of
travel businesses both within the luxury sector and also in other specialist
sectors.

Jennifer, who has been CEO of ITC for five years and joined the business ten
years ago, said:

“We are excited about this new phase for ITC. Paul brings huge amounts of
experience on company development and shares our ambitions to make ITC the
leading luxury holiday provider in the country. We look forward to showcasing
stylish holidays, sports tours and the very best hotels with our continued
focus on excellence. We have built a brilliant team and we all look forward to
leading the business to the next phase of its success.”

Commenting on his appointment and investment, Paul Pindar, said:

“I am delighted to be involved with ITC because the company has a high quality
management team which is focused on providing an exceptional luxury travel
experience at a competitive price. There are many opportunities to grow our
offering in the luxury travel market and I look forward to working with the
team to develop products for the benefit of our loyal customer base.”

Kerry Rogan and Andrew Mulliner of Santander Corporate Banking said:

“We’re delighted to be involved with Jennifer, Paul and the impressive
management team at ITC, and look forward to supporting the future growth of
the business.’

ITC Luxury Travel (01244 355 527; www.itcluxurytravel.co.uk)

                                    -ends-

Note to editors:

Established in 1974, ITC pioneered the concept of luxury travel in the UK. It
currently employs c100 staff in the UK, with offices in Chester, Harrogate,
Preston and Barbados. The group’s turnover for the year ended 30 April 2014
was £46.8m.

Contact:

Grifco
Hannah Summers (Hannah@grifcopr.com)
Lallie Fraser Lallie@grifcopr.com
Claire Griffin (Claire@grifcopr.com)
0207 385 7090
 
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