Travel management company Diversity Travel is set to expand its presence in Europe and the US following a ¡°significant investment¡± by private equity firm Primary.
Sign up for more...
News ? analysis ? podcasts ? reports
I accept the Terms and Conditions and Privacy Policy.
The TMC, which specialises in the humanitarian, academic and not-for-profit sectors, said the undisclosed investment amount will support the ¡°strong growth momentum¡± it experienced both before and after the pandemic.
Diversity CEO Chris Airey said: ¡°We are excited to announce this investment and to partner with Primary as we embark on the next chapter of our development.?
¡°We look forward to continuing to support customers and building Diversity into a truly global operator across the markets and geographies we serve.¡±
As part of the buyout deal, Primary provided equity finance alongside management, as advised by Clearwater International, while UK-based private banking company ThinCats provided debt facilities.?
Alec Parkinson, partner at Primary, added: ¡°We are thrilled to be working with Chris and the Diversity team to support the company¡¯s next stage of growth through investment in technology, international expansion and service offering development.¡±
Diversity Travel is ranked 16 in the UK in BTN Europe¡¯s Leading TMCs 2023 report.