Cultural tours specialist Martin Randall Travel is planning to grow its brand in the UK, the US and Australia after securing investment from a private equity firm.
Piper has taken an undisclosed share of the operator, founded in 1988 by Martin Randall, who remains a shareholder in the business.
Martin said: “I have been planning my retirement for some time and am extremely proud of the work Fiona [Charrington, CEO] and the team at Martin Randall have done to make this possible.
“The business is in safe hands. I know that the team will continue to provide our customers with cultural tours of the highest quality alongside our expert lecturers, excellent tour managers and partners.”
Peter Liney, the former CEO of Great Rail Journeys, has been appointed Chairman of Martin Randall Travel, which will continue to be led by Fiona.
‘We are delighted to have Piper as our partners for the next stage of growth,” she said.
“There is no doubt that they have a deep understanding of what makes Martin Randall Travel so special and are focused on protecting the DNA of the brand going forward.
“This investment means that more people will be able to access our tours and that we can continue to expand our brilliant team to support our growth.”
Martin Randall Travel, a member of AITO, operates 169 group tours in six different continents and is especially well-known for its music events. It is expected to achieve sales of £17 million this year, with much of its business coming from the expanding 55+ market.
Piper, which took a £7m stake in group tour brand Rabbie’s in 2022, said its investment in Martin Randall will ‘help the business expand its position as the leader in small group tours focused on the arts while building brand awareness across the UK, the US and Australia’.
Dan Stern, a Partner at Piper who led the deal, said: “We are very excited to be backing the Martin Randall Travel team for the next stage of growth.
“Our consumer insight work shows that people are more eager than ever to invest in their interests by seeing new countries and experiencing new cultures.
“As a thought leader unrivalled in its satisfaction levels among clients, Martin Randall Travel is exceptionally well placed to benefit from this pent-up demand.”
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Piper has taken an undisclosed share of the operator, founded in 1988 by Martin Randall, who remains a shareholder in the business.
Martin said: “I have been planning my retirement for some time and am extremely proud of the work Fiona [Charrington, CEO] and the team at Martin Randall have done to make this possible.
“The business is in safe hands. I know that the team will continue to provide our customers with cultural tours of the highest quality alongside our expert lecturers, excellent tour managers and partners.”
Peter Liney, the former CEO of Great Rail Journeys, has been appointed Chairman of Martin Randall Travel, which will continue to be led by Fiona.
‘We are delighted to have Piper as our partners for the next stage of growth,” she said.
“There is no doubt that they have a deep understanding of what makes Martin Randall Travel so special and are focused on protecting the DNA of the brand going forward.
“This investment means that more people will be able to access our tours and that we can continue to expand our brilliant team to support our growth.”
Martin Randall Travel, a member of AITO, operates 169 group tours in six different continents and is especially well-known for its music events. It is expected to achieve sales of £17 million this year, with much of its business coming from the expanding 55+ market.
Piper, which took a £7m stake in group tour brand Rabbie’s in 2022, said its investment in Martin Randall will ‘help the business expand its position as the leader in small group tours focused on the arts while building brand awareness across the UK, the US and Australia’.
Dan Stern, a Partner at Piper who led the deal, said: “We are very excited to be backing the Martin Randall Travel team for the next stage of growth.
“Our consumer insight work shows that people are more eager than ever to invest in their interests by seeing new countries and experiencing new cultures.
“As a thought leader unrivalled in its satisfaction levels among clients, Martin Randall Travel is exceptionally well placed to benefit from this pent-up demand.”
The post Martin Randall Travel eyes expansion after securing third-party investment appeared first on Travel Gossip.
Continue reading...
