A Chester-based luxury tour operator has announced a management buy-out between their current CEO and a former CEO of a FTSE 100 company.
Jennifer Atkinson, who runs Canal Street’s ITC Luxury Travel, the UK’s leading independent luxury tour operator, has completed the buy-out of the International Travel Connections (ITC) firm with the backing of Paul Pindar.
Mr Pindar spent some 26 years at Capita, building it into a £7.5bn FTSE 100 company, and has said he is “delighted” to have been appointed the chairman of the new parent company of ITC; The Luxury Travel Group.
The company, which employs nearly 100 staff at its city centre headquarters, will remain 100% British owned, with Chester resident June Foster, of the original founding family, retaining a share-holding alongside other members of the ITC management team.
It is hoped that the announcement could lead to more jobs for people in the locality, with ITC’s strategy moving forward to significantly invest in people and systems together with the targeted acquisition of travel businesses both within the luxury sector and also in other specialist sectors.
Mrs Atkinson, 39, of Didsbury, has been CEO of ITC for five years and joined the business ten years ago. She said: “We are excited about this new phase for ITC. Paul brings huge amounts of experience on company development and shares our ambitions to make ITC the leading luxury holiday provider in the country.
“We look forward to showcasing stylish holidays, sports tours and the very best hotels with our continued focus on excellence. We have built a brilliant team and we all look forward to leading the business to the next phase of its success.”
ITC Luxury Travel is one of the UK’s longest established independent, luxury tour operators with revenue of over £47m. Over the past 40 years, they have amassed a wealth of experience and knowledge and have become synonymous with providing clients with exceptional service. With its continued focus on people, the company made it onto the Top 100 Small Companies to Work For list for the third year running in 2014.
Commenting on his appointment and investment, Mr Pindar, said: “I am delighted to be involved with ITC because the company has a high quality management team which is focused on providing an exceptional luxury travel experience at a competitive price. There are many opportunities to grow our offering in the luxury travel market and I look forward to working with the team to develop products for the benefit of our loyal customer base.”
Kerry Rogan and Andrew Mulliner of Santander Corporate Banking added in a joint statement: “We’re delighted to be involved with Jennifer, Paul and the impressive management team at ITC, and look forward to supporting the future growth of the business.”
