American Express GBT to buy London-based agency
American Express Global Business Travel (GBT) is to acquire Banks Sadler, a London-based event management agency.
The company will operate as part of American Express Meetings and Events, a division of GBT.
The deal is expected to be completed later this summer.
Banks Sadler was founded in 1982 and has offices in York, Windsor, Paris, Dusseldorf and New York.
Under the leadership of Leigh Jagger, it has around 250 employees.
A spokesman for GBT said Jagger and all staff awill stay on and nobody will be relocating to different offices.
"The sale is a pivotal moment," said Jagger. "Though customers will not notice any change, the business is now supported by one of the largest travel and meetings management companies in the world."
Issa Jouaneh, senior vice president and general manager of American Express Meetings and Events, said this was a strategic acquisition.
"Banks Sadler is one of the most respected M&E brands. It brings an extensive range of services and solutions with an independent agency mindset that we will maintain and grow.
"Combined with American Express Meetings and Events leading capabilities and global footprint, our clients will benefit from an expanded value proposition."
The deal comes after two other key acquisitions by GBT.
Last October it bought SMT, a subsidiary of Finnair, and in August it acquired travel technology provider KDS.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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