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ATPI

ATP International (ATPI) is a leader in global travel management services, with operations in business travel, corporate event management and online travel technology, employing over 1,400 individuals in 52 offices across five continents.

Its primary offering is providing travel for corporate customers across most industry sectors in less accessible locations, notably for the marine, oil and gas and construction sectors. ATPI also manages incentives, conferences and events.

VALUE CREATION

Equistone worked alongside the management team to develop the business with initiatives such as:

  • Backing the acquisition in 2009 of Instone, a specialist business travel company in the marine sector, from 3i for £37m. Instone specialises in arranging travel for crew and staff for shipping and offshore companies.
  • Strengthening ATPI’s geographic footprint, through the Instone acquisition, new partnerships, and organic growth. In recent years, the company has formed new partnerships in Vietnam, Indonesia, Spain and Portugal and has opened two new offices in Australia.
  • Developing ATPI’s principal business in the “travel to work” sectors (oil and gas, marine, industrial and government), which have proven to be resilient during the recession.
  • Rebranding ATPI’s offerings into dedicated operating brands: ATP Corporate Travel, ATP Instone, ATP Event Experts and ATP Select.
  • Appointing new country managers to boost the leadership team on the ground and achieving high client retention rates across the global office and partnership network.

THE EXIT

Equistone sold ATPI to its management, backed by Intermediate Capital Group, for £170m, which resulted in a 2.1x money multiple.

HOLDING PERIOD

Jul 2008 - Nov 2012

Country

UK

Business Description

Consumer Services

Revenue Progression

£476m / £756m

Employees at ACQ.

900

Investment Type

Secondary MBO

We are grateful for Equistone’s support, particularly in its backing of our acquisition of Instone, and the extension of the business into new geographies and product areas.

ADD-ON ACQUISITIONS

Instone
May 2009