Barclays Private Equity, a European mid-market private equity firm, has taken a majority stake in ATP International Group, an international travel management company, through a secondary buyout of the business from Lloyds Development Capital.
The firm paid £73 million for ATP, which arranges flights, accommodation and events for around 5,000 clients operating across a number of sectors, including oil & gas, government, technology, sports and finance.
The company focuses on corporate clients with complex travel needs both national and international and is able to offer lower fares to customers.
ATP has operations in the UK, the Netherlands, USA, Germany, France, Norway, Belgium and Dubai and partners in more than sixty countries. The company has a turnover in excess of €500 million.
John Walker, director of Barclays Private Equity in Manchester, said: “The global business travel market is large at about €400 billion per annum and growing with long term growth estimated at 4 per cent per annum. Our investment will also enable ATP to continue its international expansion.”
Lloyds TSB Corporate Markets acquisition finance provided debt for the buyout in 2006 and is backing Barclays in the secondary transaction
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