Private equity firm swoops for £77m-turnover travel business
Private equity investor Endless has acquired a majority stake in business travel management company CTI.
The deal, for an undisclosed sum, marks a substantial exit for mid-market private equity house LDC, which first invested in CTI in 2012 and then supported its acquisition of Hotelscene in 2013.
Headquartered in Manchester, CTI has a turnover of £77m, with around 125 staff based at offices in Hull, Leeds, Bristol and Liverpool. It is led by chief executive Clive Wratten, a former UK executive at airline Etihad.
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