GRJ was founded in 1973 offering escorted rail holidays and now operates nearly 400 itineraries across more than 50 countries.

ECI invested in York-based GRJ in March 2013 helping the operator grow internationally and set up a base in New York.

Duke Street says it will support GRJ’s existing management team, led by Peter Liney. Following the buyout, Charles Gurassa will be appointed chairman.

Peter Liney, CEO of Great Rail Journeys, said: “The [Duke Street] team very quickly demonstrated a clear understanding of our business, and their experience both of growing businesses in the US and of river cruising was highly attractive to us.

“After five great years of working with ECI, who have helped us to internationalise the business, add new product lines, grow our profits and develop our management team, we are very excited to embark on the next chapter of our story with Duke Street.”