CTI, which completes over 450,000 transactions per year, is led by CEO Ian White. Chris Needham prev

TD TRAVEL COMPLETES ACQUISITION OF HOTELSCENE TD Travel , which is backed by mid-market private equity investor LDC, has completed the acquisition of Bristol-based Hotelscene Ltd to create one of the UK's leading independent corporate travel and hotel booking agents. The combined business, which will be re-branded Corporate Travel International (CTI), will boast revenues last minute charter travel specials from detroit of �100 million and employ over 150 staff across its offices in Wilmslow, Leeds, Liverpool, Hull, London and Bristol. The company also has a recently launched Marine Travel division based in Bolton.
CTI, which completes over 450,000 transactions per year, is led by CEO Ian White. Chris Needham previously CEO at Hotelscene will become CTI's CIO. He was responsible for helping Hotelscene gain recognition as a leading innovator in online bookings. Tony Norwood (Commercial Director), last minute charter travel specials from detroit who recently joined the business from LDC, and Andy Haslam last minute charter travel specials from detroit (Finance Director) complete the board.
Ian White, CEO of Corporate Travel International, said: "As a single entity, CTI can provide an integrated travel management service that brings together our heritage of market-leading travel and hotel booking expertise that delivers real savings to businesses operating in the UK and global markets.
"Following the acquisition, we now have an exceptionally strong and differentiated proposition for the business travel market and plan to build on this further with the launch of a unique online booking platform this Autumn."
LDC's Northern team, the most prolific private equity investor in the region, backed the management buyout of TD Travel in March 2012. This team has invested over �150 million in eight businesses over the past two years.
Steve Harrison, Director at LDC in Yorkshire and the North East, said: "CTI now has the breadth of services and geographic spread to fully capitalise on the growing demand for cost saving and consultant-led corporate travel services. The business has an experienced and motivated management team that will take it to the next stage of its exciting growth trajectory."
A package of senior debt and working capital facilities has been provided by Lloyds Bank Commercial Banking�s Acquisition Finance team and supported by TD Travel�s Hull-based Relationship Director at Lloyds Banking Group, Richard Townsend.
Accountancy and business advisory firm BDO LLP in Leeds were lead advisers to TD Travel, led by M&A partner Tim Clarke and assistant director James Croxen. BDO partner Matt Copley also provided due diligence to TD Travel and LDC.
Tim Clarke, M&A partner at BDO, said: "The corporate travel sector is ripe for consolidation and this transaction is a great strategic fit that will further strengthen TD Travel�s offering and provides the business with genuine 'one stop shop' capabilities which puts it in an excellent position in a highly competitive market."
A multi-practice team from Squire Sanders' Leeds office, led by corporate partner last minute charter travel specials from detroit Richard Hunt, advised TD Travel. Richard Hunt said: "We�re very pleased to support Ian and his team on this important strategic move. TD Travel's investment in both technology and expertise to develop CTI has created one of the most dynamic providers of business travel services in the UK." ENDS 12 July 2013 Issued on behalf of TD Travel and LDC by Citypress. Press information: Alastair Henry Citypress (on behalf of TD Travel and LDC) T. 0161 235 0320 / 07738 206847 E: alastair.henry@citypress.co.uk Martin Currie Citypress (on behalf of TD Travel last minute charter travel specials from detroit and LDC) T. 0161 235 0310 / 07976 291532 E. martin.currie@citypress.co.uk Notes to editors Corporate Travel International CTI is one of the UK�s leading independent corporate travel and hotel booking agents and was created in July 2013 following the acquisition of Hotelscene by TD Travel. CTI Travel, formerly TD Travel, specialises in personalised business travel consultancy and booking services to over 500 companies, many of which include large multi-nationals. The firm helps customers save money on their travel expenditures by advising on optimum routes and ticket types to destinations around the world, using its relationships with hundreds of airlines, hotels and rail operators. CTI Hotels, formerly Hotelscene, is the country�s largest independent hotel booking agent. The business provides innovative last minute charter travel specials from detroit hotel booking services and full range of events and conferences services to SME and large businesses. LDC 1. LDC is part of Lloyds Banking last minute charter travel specials from detroit Group and is authorised and regulated by the Financial Services Authority. 2. LDC backs ambitious management last minute charter travel specials from detroit teams from UK-based companies seeking between �2m and �100m of equity for management buy-outs, institutional buy-outs or development capital transactions. 3. LDC has, since 1981, completed over 400 investments. 4. LDC has a portfolio of over 80 businesses across the UK which collectively generates �4bn of revenues and �460m of profit, and employs last minute charter travel specials from detroit over 30,000 people. 5. LDC invests last minute charter travel specials from detroit in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services. 6. LDC has invested �1.5bn into ambitious last minute charter travel specials from detroit businesses in the past five years to support their growth. It plans to invest �2bn over the next five years. 7. LDC invested over �280m of equity across 18 new businesses in 2012. It also continued to support the �buy and build� strategies of our portfolio firms with �86m of additional equity funding for acquisitions during the same period, alongside �23m drawdown into fund investments. 8. LDC is the leading private equity company in the UK mid-market. Recent transactions include investments with Rimor, Node4, D&D London, NRS Healthcare, Validus, Fever-Tree, Ramco Oil Services, ATG Access and Blue Rubicon. 9. LDC has a UK regional network alongside an international operation based in Hong Kong. 10. For further information, call Alastair Henry or Martin last minute charter travel specials from detroit Currie on 0161 235 0300 or visit www.ldc.co.uk