A Bristol travel company that specialises in trips to Asia has secured “significant new investment”, it has announced.
Inside Travel Group (ITG) and its specialist travel brands, InsideJapan and InsideAsia Tours, secured the funding from private investment group Blandford Capital LLP.
As part of the deal, Ian Simkins, Audley Travel’s former chief executive and current chair of The Thinking Traveller, will join ITG as a non-executive director, together with David Wiseman.
The details of the investment were not disclosed but the transaction was coordinated by regional and travel-sector focused teams at KPMG’s corporate finance division, with legal advice from law firm TLT.
Mr Simkins said the deal would support the company’s “ambitious plans”.
He said: “The InsideJapan and InsideAsia brands have a brilliant reputation with their clients and travel partners throughout the industry. We all see enormous potential in the continued growth of Japan, and the InsideAsia brand with its expanded portfolio of destinations including Malaysia, Borneo, Thailand, and South Korea.”
Inside Travel Group was co-founded in 2000 by university friends Alastair Donnelly and Simon King after living in Japan. InsideJapan is an independent Japan travel specialist and its Southeast and East Asia sister brand InsideAsia Tours provides cultural adventures across the region.
Mr King said: “In strengthening our financial position, and bringing onboard valuable industry and business expertise, we will not only continue to provide and improve the incredible holidays and service that our InsideJapan and InsideAsia teams are known for but grow also.”
Japan recently opened its borders to fully escorted trips, with InsideJapan one of the first to run small group tours again.
KPMG’s Tim Spooner added: “We are proud to have been able to support the business throughout the transaction. Our ability to get this deal done in the current market is testament to the excellence of the management team and the strength of its pre-eminent brand in its markets.”
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