Group behind Hotels & More snaps up Danish operator Trans Nordic Tours
The British tour operator group behind Hotels & More has tightened its grip on the European market by snapping up Danish-based Trans Nordic Tours.
Tour Partner Group (TPG) said the deal will bolster revenues to about 100 million euro (£88.6 million) and bring it a step closer to becoming Europe's largest destination management company (DMC).
Trans Nordic Tours, an in-bound tour operator focused on areas such as Sweden, Norway and Iceland, was founded by Yvonne and Pierre d'Hermilly in 1995.
The Danish firm booked a 47% rise in annual pre-tax profits to £3.3 million, according to its latest available results.
The push into the Nordic market is the first strategic move from TPG chief executive Paul Maine, who was chief commercial officer of STA Travel until September 6 this year.
Harrow-based TPG, which employs about 200 staff, did not reveal the value of the deal.
Mr Maine said: "With the global spotlight on the Nordic region as an exciting and year-round travel destination, I am delighted to be able to work alongside Yvonne and Pierre, and the whole Trans Nordic Tours team.
"With this acquisition, we have started to realise our vision to be the largest DMC in Europe, with a combined revenue of over 100 million euro.
"We will continue to innovate our product offering within and across our destination markets, providing new opportunities for our customers, suppliers and employees."
TPG was formed after Mayfair Equity Partners backed a buyout of Hotels & More in 2015, before snapping up Irish Welcome Tours in a deal reportedly worth about 20 million euro (£17.7 million).
The acquisition of Trans Nordic Tours, which has a 41-strong workforce, will open up more markets for TPG, from Asia to Australia, the Middle East and South America.
Yvonne d'Hermilly, chief executive of Trans Nordic Tours, said: "Joining this select group of the best-performing inbound tour operators in northern Europe is a privilege and the synergies between us will be an asset to our partners, clients and suppliers.
"We are excited about the opportunity and we could not have hoped for a better future for our staff and Trans Nordic Tours."
Hotels & More is a business-to-business operator, offering packages for coach tour firms, travel agents and direct sellers.
Mayfair Equity Partners also owns restaurant chain Yo! Sushi, energy provider OVO and fishing tackle firm Fox International.