Trans Nordic Tours, the largest inbound operator to the Nordic countries by revenue, is being taken over by Tour Partner Group.
The deal builds on Tour Partner Group’s position as a leading European destination management company with combined revenues more than €100 million.
It is the recently formed holding company for Hotels & More, Irish Welcome Tours and Authentic Vacations.
Denmark-based Trans Nordic Tours was established in 1995 and covers travel throughout Scandinavia, Iceland, Greenland, Finland, the Baltics and Russia.
The business has 41 staff, speaking 17 different languages, and services a fast growing and geographically diverse client base.
The acquisition marks the first strategic initiative under recently appointed Tour Partner Group chief executive, Paul Maine, and the group’s entrance into the Nordic market.
Trans Nordic Tours will also add new source markets to Tour Partner Group’s portfolio, capturing increasing demand from Asia, Australia, the Middle East and South America.
The acquisition follows the recent transaction with Irish Welcome Tours, one of Ireland’s leading inbound tour operators, and Authentic Ireland, a high growth online US travel agent, which strengthened Tour Partner Group’s market leading position in the UK and Ireland.
This activity represents the next phase in Tour Partner Group’s growth following Mayfair Equity Partners’ backing the buyout of Hotels & More in 2015.
Tour Partner Group now consists of more than 150 destination experts, providing services across 14 northern European countries to clients from more than 50 countries; including operating groups, foreign independent tour providers and the meeting and event industry.
Tour Partner Group will continue to evaluate acquisition targets that complement the Group’s underlying organic growth, provide access to new geographies, and reinforce its leadership position in existing markets, according to the company.
Maine said: “With this acquisition, we have started to realise our vision to be the largest DMC in Europe, with a combined revenue of over €100 million.
“We will continue to innovate our product offering within and across our destination markets, providing new opportunities for our customers, suppliers and employees.”
Trans Nordic Tours CEO Yvonne d’Hermilly said: “Joining this select group of the best performing inbound tour operators in northern Europe is a privilege and the synergies between us will be an asset to our partners, clients, and suppliers.”