Specialist tour operator Chameleon Worldwide has parted ways with Intrepid Travel.
Melbourne-based Intrepid Travel took a stake in the UK niche operator Chameleon Worldwide in 2010.
But Chameleon has issued a statement today saying it is now a "fully independent company again".
Managing director Mark Wright said: "It feels very good to be 100% independent once more.
"We are a small specialist operator and our focus has always been on providing personal and flexible arrangements to our customers.
"Our small team of 20 staff are delighted with the news – they have a genuine passion for adventurous holidays for adults, families and schools."
He said the business will now grow "step by step, working with local people and suppliers in the countries we operate in who we’ve got to know well over many years".
As part of the restructuring, Chameleon Worldwide will now focus on growing the business and developing Walks Worldwide, Families Worldwide and Schools Worldwide.
It is also launching a new brand shortly.
by Bev Fearis