ATP International acquires marine travel firm
International marine travel company Instone International has been acquired by travel management company ATP International Group.
ATP, backed by its private equity partner Barclays Private Equity, concluded the deal for an undisclosed sum.
The combined group will have worldwide revenues of more than €750 million and a branch network covering 20 countries plus a worldwide partner network.
ATP had a turnover of €585 million (£486 million) last year and has 5,000 clients operating across a number of sectors, including oil and gas, government, technology, sports and finance.
Instone had a turnover of more than €175 million (£160 million) in 2008. The company comprises 18 individual and fully-owned companies and six franchises worldwide under the same brand, in addition to three representative offices. The company’s headquarters are in
Brentwood and it employs about 200 marine travel specialists.
ATP group chief executive Graham Ramsey said: “Instone is the perfect fit for us and for our company culture; both organisations are top players in their respective fields and both will benefit substantially from wider service opportunities and a substantially increased global footprint.
“The opportunities this creates for our clients, staff and suppliers will make this an exciting deal for ATP and for the industry.
“It is also highly significant that in these difficult financial times ATP’s investors have recognised the quality of our team and our proposition sufficiently to support our continued growth.”
Instone International has a strong history in the travel business, tracing its roots back to 1919.
Chairman Egil Skibenes said: “This is a joyous moment in Instones’ history – and for all of us.
“Instone has been courted for quite some time and to have found a suitor, who would be our suitor of choice, is more than we could have hoped for.
“ATP is renowned for its quality offering and as such has become a leading corporate travel specialist.
“We are confident that they are the perfect custodians for a marine travel brand and a culture that stretches back nearly a century, we look forward to developing our joint offering and building a successful future together.”
by Phil Davies
Phil Davies
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