News

Independent travel management firm Portman Travel has changed ownership.

Previous majority shareholder Bridgepoint Capital has sold its stake to Vision Capital making it the sole shareholder in the business travel agency.

Bridgepoint Capital had been the main investors since 1996. As a result of the sale Ruth Macintosh of Bridgepoint Capital has resigned as a director and will be replaced by Alister Wormsley of Vision Capital.

In October last year Portman Travel acquired the assets of P&O Travel Limited, giving the business an annual turnover of £260 million.

Wormsley said: “Portman Travel is a stable, well run and profitable business with a successful track record of integrating new acquisitions to fuel growth. Vision Capital is backing the existing management team to take Portman to its next stage of development.”

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