Specialist tour operator Wexas has sold its corporate travel division, Wexas Travel Management, to Good Travel Management.
The sale, for an undisclosed sum, includes both the purchase of the corporate client base as well as the transfer of 21 employees.
The acquisition will add 70% growth to the turnover of Hessle-based Good Travel Management and will bring its headcount to more than 50.
Kevin Harrison, MD of Good Travel Management said: “We’ve been an admirer of Wexas’ corporate business for a number of years. They’re known for high quality service, delivered by a very experienced team. In an industry where the quality of people makes the difference, we believe this acquisition complements our business and aspirations perfectly.”
The Wexas team will continue to work from its central London location, with support from Good Travel Management’s team in Hessle.
Katherine Gershon, Managing Director, Wexas, said: “As part of Wexas, Wexas Travel Management has a 40-year heritage of looking after corporate clients and their travel needs, with a fantastic team of employees and an outstanding client base.
“We have carefully chosen Good Travel Management as the new owner of Wexas Travel Management because they share our passion for exceptional service, with a focus on both clients and employees, specialising in the SME space.
“Like Wexas, Good Travel Management is an independent business, part of the Hull-based John Good Group, which has been owned by the Good family for 190 years. We are delighted to be handing over the business and entrusting our outstanding team to them and wish them all the best in the future.”
Paul Reed, Wexas Head of Corporate Operations, will stay on under the new ownership while the rest of the management team (pictured here) will stay with Wexas.
Gershon said Wexas would focus on growing its core tour operating business, which operates under three brands – Wexas Travel, The Luxury Holiday Company and specialist Scandinavian operator, Best Served Scandinavia.
“As well as organic growth, we are also looking to grow through acquisition and the sale of Wexas Travel Management puts us in an excellent position to pursue this,” she added.
White Hart Associates Corporate Finance team managed the sale of Wexas Travel Management.