The deal, concluded on Wednesday (30 March), was overseen by Summit Advisory and sees Hampshire-based TMC Norad’s leisure agencies Howard in Trowbridge and Erne in Enniskillen pass into new hands.

Founded in 1981, Norad is a member of the Business Travel Association and the Advantage Travel Partnership, and holds Abta, Atol and Iata licences.

Talma, meanwhile, was established in 1987 as Talma Travel and Tourism before being renamed this year. It employs more than 200 people across five locations, servicing more than 3,000 clients.

Norad chair Mick Gibbs said: "We have got to know the Talma team well and believe in their ambitions to build a global travel entity.

"I am particularly happy to see the talent and technology from both organisations come together to create a world-class travel business, which will deliver great service to clients, suppliers, and partners alike.

Talma chief executive Iya Magen added: "We are excited by the acquisition of Norad Travel and welcome the team to Talma."

Summit Advisory founding director Deborah Potts said the deal would ensure a "great British independent TMC and leisure travel company" was in good hands, and give Talma a strong entry point into the UK market.

"It is good news for all parties involved and testifies to the growing recovery in both the business and leisure travel sectors here in the UK," Potts added.