Specialist operator Great Rail Journeys Ltd has been acquired through a buyout led by Vitruvian Partners.
Owner Duke Street had invested significantly in GRJ to scale up the business since 2018.
Vitruvian Partners is a major investor in the travel and travel tech sector, with current stakes at Travel Counsellors, Sykes Cottages, Civitatis, Klook and OAG.
It also had successful prior investments in Skyscanner and JacTravel.
The management team led by CEO Dave Riley, will continue operating the business with a particular focus on the UK, US and other source markets.
Great Rail Journeys was founded in York more than five decades ago as a family-run business focused on rail tours in the UK and Europe.
It has grown total transaction values (TTV) to around £175 million in the current financial year, by extending its range of tours, team and source markets.
It is now also a major player in the US market.
GRJ offers a curated portfolio of multi-modal tours by rail, river and more with about 400 itineraries in over 40 countries globally.
Dave Riley, CEO of Great Rail Journeys, said: “I would like to thank the Duke Street team for their support over the last seven years. The business has transformed in that time.”
“We’ve tripled the size of our US business, achieved market leading growth in the UK, and grown beyond rail.”
Ben Johnson, Partner at Vitruvian Partners, added: “We are excited to partner with Dave and his team and share their ambition for the company to become the global market leader in escorted travel.”
