The chief executive of a leading UK travel firm has detailed the strategic reasoning behind a major £50 million international acquisition, a move set to significantly alter the company's global footprint.
A £50m Bet on Canadian Growth
Steve Byrne, the CEO of Manchester-headquartered Travel Counsellors, confirmed the company's first international deal: the purchase of Canadian counterpart The Travel Agent Next Door (TTAND). The transaction, valued at £50 million, was finalised and announced in early December 2025.
Byrne explained to City AM that this acquisition is a core component of the firm's growth strategy, designed to complement its organic expansion plans. He highlighted that Canada is the world's seventh-largest outbound travel market, presenting a substantial opportunity. The target company, TTAND, has reportedly doubled in size over the past five years and is considered a market leader.
"The business that we’re buying is a market leader," Byrne stated. "It’s got shared values with Travel Counsellors in terms of how it looks after its agents and its customers, and it will help us accelerate our growth strategy globally."
Shifting the International Mix
A key outcome of the deal will be a rebalancing of Travel Counsellors' revenue streams. Currently, non-UK sales account for between 13 to 15 per cent of the business. Byrne expects this acquisition to increase that proportion to around 30 per cent.
"That greater balance in the business I think is sensible," he remarked, underscoring the strategic desire to increase the company's international presence. While open to further mergers and acquisitions that can accelerate growth in new or existing markets, Byrne emphasised that the company's historical focus on organic growth would remain its primary driver.
IPO Plans Firmly on Hold
Despite positive trading news from competitors like On The Beach, Byrne firmly ruled out an initial public offering (IPO) for Travel Counsellors in the near future. The company is backed by private equity firm Vitruvian Partners.
"We still think there’s loads of growth to go at," Byrne said. "At some point Vitruvian will want to realise their investment but we’re not planning for that under any scenario at the moment, including IPO." He added that the current focus is on sustainable growth for the long-term benefit of all stakeholders.
Budget Uncertainty and Consumer Demand
The CEO also addressed the broader economic climate, commenting on the potential impact of the previous week's Budget. Byrne said he had "no doubt" that the uncertainty surrounding it had "led to a softness in consumer demand" across multiple sectors, including travel.
However, he expressed confidence that this effect would not be permanent or long-lasting, suggesting a belief in the underlying resilience of the travel market.
Seller's Perspective: Culture and Tech Alignment
Flemming Friisdahl, founder and CEO of The Travel Agent Next Door, explained his reasons for selling. He cited two primary factors: cultural alignment and technological innovation.
"I have always looked at Travel Counsellors as a leader when it comes to travel professionals that work remotely and flexibly," Friisdahl said. He highlighted that the supportive culture for agents was a strong match for TTAND's own values.
Secondly, he praised Travel Counsellors' commitment to innovation, specifically their investment in technology tools for travel experts. "We cannot wait to bring some of the benefits of Travel Counsellors’ sector-leading technology and product to support our team in Canada," he concluded.
