A technology platform for travel entrepreneurs has made its first acquisition in the company's near 30-year history.
Manchester-headuartered Travel Counsellors has snapped up Holidaysplease for an undisclosed sum.
The Birmingham-based online travel company has approximately 100 home-working travel experts, 50 franchisees, and around 50 employees.
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Holidaysplease generated total transaction value (TTV) of more than £40m in 2022.
Travel Counsellors was advised on the transaction by Springboard Corporate Finance, Hazlewoods Corporate Finance, and Hill Dickinson whilst Holidaysplease was advised by Jerroms Accountants and Squire Patton Boggs.
The Manchester company is backed by Vitruvian Partners, which also has stakes in the likes of Sykes Holiday Cottages, Trustpilot and Twinkl. It has also previously backed Just Eat and Skyscanner.
Travel Counsellors CEO Steve Byrne said: "We are delighted to have acquired such a highly regarded, fast-growing and profitable business with a hugely complementary strategic fit.
"I would like to take this opportunity to welcome the entire Holidaysplease community; we are incredibly excited at what this combination will mean for both businesses, our communities of travel experts, and our customers.
"Our strategic goal is to build a community of the very best travel entrepreneurs who are empowered by our technology to deliver exceptional customer experiences.
"Both businesses share incredibly similar cultures, each built on people-led values and a relentless focus on customer care. This is clearly reflected in both brands’ excellent customer feedback and ratings.
"Both businesses share outstanding momentum having each delivered exceptional growth in 2022 as well as record-breaking performances in January 2023, when Travel Counsellors achieved TTV of more than £110m while Holidaysplease recorded the most successful month of trading in its 20-year history.
"I am confident that this combination will only serve to strengthen both business’ momentum and exciting long-term prospects.
"The acquisition supports our growth strategy as we accelerate towards being a £1bn+ transaction value platform in the near future.
"Our proprietary technology and operating model are both highly scalable, and we look forward to the future with excitement and confidence."
Holidaysplease director Charles Duncombe added: "We are delighted that Holidaysplease is joining the Travel Counsellors community.
"Travel Counsellors is a business we have long-admired for its relentless customer focus, multi-award-winning proposition, and outstanding, technology-led growth.
"The opportunity to become part of such a strong, fast-growing business with significant growth prospects was incredibly compelling.
"I have no doubt that our business and our teams of travel advisors and franchisees will continue to thrive and be cared for as part of Travel Counsellors.
"I am looking forward to working closely with Steve and the rest of the Travel Counsellors team to deliver our ambitious shared vision for the future."
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