Company Description: Independent travel network
Instructed by: Management
The Travel Network Group Announce MBO
WK Corporate Finance has supported the management team of The Travel Network Group in its successful Management Buy- Out (MBO) of the Group. This includes ownership of all membership brands underneath The Travel Network Group, specifically Travel Trust Association (TTA), Worldchoice, Independent Travel Experts, Worldchoice Ireland and TTA Trustees.
The Travel Network Group is the largest independent travel network in Europe providing a range of membership propositions, products and services that enable new or existing travel businesses to operate within the travel sector.
The Group will continue to be driven by the management team, led by Gary Lewis as Chief Executive Officer, Lisa Henning as Group Membership Services Director, Avril Hurd as Group Operations and Risk Director, Si Prentice as Group Marketing Director and Vim Vithaldas as Group Commercial and Finance Director.
Mr Lewis said: "We have been working towards this management ownership for over three years and believe the change is essential to continue to maintain the professionalism, the required investment and determination to deliver for our Members. The MBO will bring continued stability to our Group and will enable the management team to continue to pursue our strategy of putting Members at the centre of everything we do.”
Mr Lewis went on to say that since merging Worldchoice and Travel Trust Association back in 2008 and rebranding to The Travel Network Group, his management team has transformed the business from being a service provider to being the largest and most successful consortia in Europe. Under this new corporate structure, he believes the opportunities for continued success are boundless.
“Our Group is in an exceptionally strong position both financially and strategically. Our pipeline of new members continues to grow and the satisfaction levels of existing members remains at an all-time high,” continued Mr Lewis.
“As far as our Members are concerned, our commitment remains: to be their preferred travel partner and continue to help them run their businesses as efficiently and profitably as possible. The relationships we have with our Members remain at the core of everything we do and this will become even more evident as we move forward.” He concluded.