BSI Group acquires event management firm
Corporate accommodation and conference management organisation BSI Group has acquired Olive 360, a consultancy specialising in delivering event management solutions.
The London-based agency has been purchased for an undisclosed sum in a deal supported by the Royal Bank of Scotland.
BSI Group claims to be is setting a precedent by consolidating two historically separate industries – corporate accommodation bookings and MICE (Meetings, Incentives, Conferences and Events) – into one service proposition.
It recognises that there are compelling purchasing synergies and economies of scale that clients can benefit from, according to the company.
The aim is to cater for all aspects related to booking buying accommodation for business travellers and space for corporate meetings, conferences and events.
Established in 1997, Olive 360’s clients, which include AT&T, Watson Wyatt, Rymans and the Home Office.
Leading a team of 22, Sarah Jones, founder and CEO of Olive 360, who has been with the company for 10 years, will remain as the head of the business following the acquisition. The existing brand and identity will be retained and the company will continue to operate as usual, equipped with its full team of staff and technology. No changes to Olive 360’s structure, location or client offer are planned for the foreseeable future, BSI said.
BSI group managing director Charles Cockell said: “Olive 360 adds another core string to BSI Group’s bow, and firmly establishes our footprint in the event management arena, enabling us to offer clients a total service. Olive 360 is a strong, reputable business, and with the buying power of BSI, there is a major opportunity to expand and bring a new era to the market.
“We know that there are major synergies to be gained between a client’s accommodation space and MICE purchasing requirements, and are focused on combining both areas into one holistic service offer that sets a precedent.
“As the industry continues to consolidate, BSI is strongly establishing itself as one of the major players in the MICE and business travel world. Through this acquisition and our own organic development, BSI is in a very positive position to continue managed growth.”
Jones said: “The pace of the growth for the events market is astonishing, but this dynamic presents its own pressures on small businesses like us who wish to maintain long-term competitiveness and presence. Via BSI, we will gain substantial operational cost-efficiencies which will enable us to continue to expand and impact the future direction of the market while maximising our profitability.”
by Phil Davies
Phil Davies
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