Management Due Diligence specialists, The Quinn Partnership has advised NorthEdge Capital on it’s management buyout of ITC Luxury Travel Group, the Chester-based independent luxury tour operator.

Led by Jen Atkinson, the ITC Luxury Travel Group employs 200 staff,specialising in luxury tailor made holidays worldwide since 1974 – ITC was the first travel company to charter Concorde and has a team of 60 travel specialists with an outstanding reputation for customer service. The business is on track to make 13,000 bookings this year and is expected to carry 32,000 passengers to 106 countries across the globe. The company reported turnover of £80m in the year to April 2016 – up from £43m in 2013.

Jen Atkinson, CEO at ITC, said: “We’re delighted to have NorthEdge on board as a partner as we look to increase market share in the luxury travel space. The investment from NorthEdge will allow us to invest in the training and development of our sales teams, as well as developing our IT infrastructure to ensure we can continue to deliver exceptional experiences and market leading service to our customers. We will also be looking to broaden our product offering beyond our current luxury and tailor made proposition. Our customers demand unique experiences in the world’s most exclusive destinations with a first class service.”

Ray Stenton, Partner at NorthEdge Capital, added: “ITC is recognised as one of the UK’s pre-eminent luxury travel brands and has been selling luxury holidays into a resilient consumer base for over 40 years. The business has a clear growth strategy and has already demonstrated its ability to expand both organically and through acquisition. Jen has done a superb job in doubling profitability and getting the company to where it is today. We look forward to working with her and the rest of the management team in delivering the next stage of the company’s development.”

Paul Quinn, Director at The Quinn Partnership, commented: “ITC is a well established luxury brand. Partnered with NorthEdge, Jen Atkinson and the team are well positioned to continue to grow and expand it’s market share.”

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