Travel Counsellors open to future acquisitions 'with the right qualities'
Tom ParryTravel Counsellors chief Steve Byrne says the company is “happy growing organically and through future acquisitions” but stressed any potential deals would only involve businesses “with the right qualities”.
Byrne was speaking to TTG following Travel Counsellors’ purchase of Birmingham-headquartered Holidaysplease on Monday (13 March) – the first acquisition in the homeworking giant’s near 30-year history.
The deal, for an undisclosed sum, will offer “the best of both worlds” for each business, Byrne claimed, adding how he wanted to “provide lasting benefit” for Holidaysplease’s homeworking agents, franchisees and head office employees.
“We want to get to know each other, learn about each other and help both businesses get those benefits. We’re looking forward to getting in front of as many [Holidaysplease] agents and franchisees as possible and giving them reassurance and then excitement for the future,” he told TTG.
“It’s very much business as usual. We want to learn from them and all the great things they do and how can we make those better and what can we take from our business – our services and our technologies – that can be leveraged into their business.”
Byrne said Travel Counsellors felt “very fortunate” to have secured the deal and been chosen by Holidaysplease’s directors, adding how he believed the two companies were “very similar in terms of culture and values”.
MORE: Richard Dixon: ’Why we sold Holidaysplease to Travel Counsellors’
“They were only ever going to partner with someone who shared their values and they’ve built up a great business and looked after their customers and staff before and during Covid. We all want the same thing, which is the 200 people who are part of Holdaysplease to go on and have rewarding futures.”
Byrne stressed that although Travel Counsellors had “always been open to acquisitions” any future buyout “has to fit into your strategy”.
“For some time our strategy has been about attracting the best talent; we recruit about 150-200 people a year in the UK, and helping our business owners grow by investing in our platform – and this [Holidaysplease deal] fits.
“We’ve now got an opportunity to help more people grow their business as part of our community and expand the amount of people who have access to our platform.
“We’ve always been open to acquisitions – but it has to be the right business that’s got the right qualities and people, and Holidaysplease fits in strategically and culturally.”
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Tom Parry
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