LDC's TD Travel acquires booking agent Hotelscene

LDC supported TD Travel in securing senior debt facilities provided by Lloyds Bank Commercial Banking. Bristol-based Hotelscene will be merged with TD Travel; the group will trade under the name Corporate Travel International (CTI) and will post consolidated revenues of £100m.

The enlarged entity employs 150 staff across offices in Wilmslow, Leeds, Liverpool, Hull, London and Bristol. It recently opened a new division in Bolton.

Mid-market investor LDC backed TD Travel's MBO in March last year.

Company
Hotelscene is a booking agency mainly catering to corporate clients, specialising in hotels, conferences and meetings. It was based in Bristol prior to the merger.

It was bought in a Bestport Ventures-backed deal in 2006, with Bestport providing £1.75m as part of a £6m investment.

People
Ian White is the new group's CEO; he was previously CEO at TD Travel and was responsible for the acquisition of Hotelscene. Chris Needham, Hotelscene's former CEO, is now CTI's CIO. Andy Haslam is CTI's finance director. Tony Norwood, who previously worked at LDC, is CTI's commercial director.

Advisers
Equity – BDO, Matt Copley (Financial due diligence).
Vendor – BDO, Tim Clarke, James Croxen (Corporate finance); Matt Copley (Financial due diligence); Squire Sanders, Richard Hunt (Legal).

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