ao link

 

Speakman: 'I wish them all the very best'

Speakman: 'I wish them all the very best'

Speakman oversaw Travel Counsellors' transformation into one of the largest independent travel agencies in the country, and its expansion to a further six countries - Ireland, the Netherlands, Belgium, Australia, South Africa and the UAE.


He stepped down from his role as chairman of Travel Counsellors in 2015 shortly after Equistone’s investment.


In an email, co-signed by his wife Maureen, Speakman said: “Last night, a deal was completed in which we sold our remaining interest in Travel Counsellors.


“We wish Kirsten Hughes, Karen Morris and their staff, both in the UK and overseas, all the very best for the future.

 

“We thank all our Travel Counsellors past and present who have been on such a great journey with us. We hope that that journey for all existing Travel Counsellors has only just started."

Buyout marks 'next phase in incredible journey'

Since Equistone’s 2014 investment, total Travel Counsellors transactions have grown by £130m to £512m per year while statutory turnover and profit has grown, on average, by 17% and 20% per annum respectively.


The business now has more than 1,800 self-employed Travel Counsellors franchisees working flexibly from home, underpinned by its tech platform Phenix allowing them to run their businesses as they wish to.


Steve O’Hare, senior partner at Equistone Partners Europe, said: “We have been proud to have been able to support Steve and the talented management team through investing and building the business over recent years and provide a platform for the business to continue to grow and scale even further, building on the foundations laid by David Speakman.


“It has been a pleasure to be involved in such a people orientated business and culture. I am looking forward to seeing the next phase of growth for Travel Counsellors and its incredible journey.”

 

Ben Johnson, partner at Vitruvian Partners, added: “We are excited to announce our investment in Travel Counsellors. It is a business with a unique culture and reputation and high standing in the travel industry. We believe in its focus on empowering its Travel Counsellors to work flexibly and smarter using the company’s propriety technology.


“We only back exceptional high growth technology-enabled businesses with stable, proven leadership teams. We are proud to back the business and just want to help it grow and be even more successful.”

Sign up for weekday travel news and analysis straight to your inbox

Latest travel jobs

Assistant Manager - Birkenhead

Assistant Manager - Birkenhead

Travel Consultant - Wallasey

Travel Consultant - Wallasey

Store Manager - Cameron Toll

Store Manager - Cameron Toll

Competitions

Our Next Events

Luxpo 2024

Luxpo 2024

TTG Top 50 Travel Agencies 2024

TTG Top 50 Travel Agencies 2024

TTG - Travel Trade Gazette
For Smarter, Better, Fairer Travel
B Corp-certified
TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: 6th Floor, 2 London Wall Place, London EC2Y 5AU