American Express Global Business Travel has purchased London-based event management firm Banks Sadler.
Terms of the deal to buy Banks Sadler have not been disclosed and the transaction is due to be completed in the third quarter of this year when it will become part of American Express Meetings & Events.
Banks Sadler was founded in London in 1982 and also has offices in York, Windsor, Paris, Dusseldorf and New York – the company currently has a staff of around 250.
Issa Jouaneh, general manager of American Express Meetings & Events, said: “Banks Sadler is one of the most respected M&E brands. It brings an extensive range of services and solutions with an independent agency mindset that we will maintain and grow.
“Combined with American Express Meetings & Events’ leading capabilities and global footprint, our clients will benefit from an expanded value proposition.”
Leigh Jagger, Banks Sadler’s CEO, added: “The sale is a pivotal moment. Though customers will not notice any change, the business is now supported by one of the largest travel and meetings management companies in the world."