ISIS sells stake in London travel operator

ISIS Equity Partners’ Manchester office has sold its stake in London-based Reed & Mackay, which manages travel arrangements for businesses and individuals, to ECI Partners.

The value of the deal was not disclosed but ISIS said the transaction had given it an internal rate of return (IRR) of 35%. ISIS has also reinvested alongside ECI.

Reed & Mackay was established in 1962 as a travel agent providing both business and leisure travel services. In 1988 the company rebranded as a corporate travel management company.

Corporate partner Nicola Frost from the Manchester office of law firm Cobbetts advised Reed & Mackay’s management on the deal. She was supported by Laura Lovell.

She said: “Reed & Mackay is a quality business that has forged a clear niche for itself. The equity funding and managerial support provided by ECI and ISIS will enable the company to push forward into the next stage of its growth ambitions while maintaining its culture and excellent standards of service.”

Andy Hibbert, managing director at Reed & Mackay, said: “We are delighted to have ECI co-investing with ISIS. They share the vision of preserving our culture which is key to our success, whilst supporting us in our development of products and services that will provide more value to our existing and future clients.”