Diversity Travel could be up for sale next year, according to sources.
The Travel Management Company: An agency which manages business travel for a company., which specialises in the charity, academic and non-profit sectors, has more than 2,000 clients, including Save the Children, Salford University and the Salvation Army.
In the BBT Leading 50 TMCs, it this year ranked at 21st place. It employs 160 people with offices in Manchester and London in the UK, and Arlington in the US.
The company reported gross sales of nearly £70 million for the year ending March 2018, and a turnover of £7.9 million. Its profit before tax for the 12 months was £1.7 million, up from £1.2 million in 2017.
GCA Altium is reportedly acting as financial adviser for the sale. GCA also advised Hillgate Travel on its sale to Reed & Mackay in May last year.
Buying Business Travel contacted Diversity Travel and GCA Altium, but both declined to comment.
A possible acquisition would follow several deals already made in the corporate travel sector this year, including this month’s purchase of Amber Road by Gray Dawes Group.
Earlier this year, Diversity Travel announced a partnership with Virgin Atlantic and Delta Air Lines to raise funds for the Diversity Foundation, which supports a remote community in Uganda made up of more than 100 villages. For the month of September, the airlines will make a £5 contribution towards the Diversity Foundation for every Virgin Atlantic or Delta Air Lines flight booked by the Diversity Travel team.