London-based travel management company Baxter Hoare Travel has been acquired by Bath Business Travel for an undisclosed sum.
The acquisition propels Bath Business Travel into the top 25 travel management companies in the UK, and will boost annual turnover by around 20% to a total £30 million by April 2009.
It is also gives the Bath Travel Group its first ever foothold outside of south west England.
Founded in 1883, Baxter Hoare Travel has nine staff operating from an office at London Bridge.
The company has a current turnover of £6 million, £3.5 million of which is derived from business travel.
Baxter Hoare was the subject of a management buy-out by managing director Colin Saunders from previous owners, Wembley London in 1996.
Saunders, who has been at the helm of Baxter Hoare for some 40 years, will remain as the director for a further two years following the acquisition.
The company will also continue to trade as Baxter Hoare Travel.
In addition to business travel, Baxter Hoare has a strong presence in the events and exhibitions market acting as the officially appointed travel management company and hotel contractor for some 40 worldwide exhibitions and trade fairs. Annual turnover generated by this market is £1.5 million.
Bath Business Travel said managing director Adam White said: “This is great news for our customers and both teams of staff as a London operation will clearly provide new exciting opportunities for all our businesses whilst simultaneously offering enhanced career development potential for our people.â€
by Phil Davies
