Ex-Capita chief backs ITC Luxury Travel MBO

JENNIFER Atkinson, the chief executive of Chester-based tour operator ITC Luxury Travel, has completed a management buyout of the business.

She has been backed by Paul Pindar, the former chief executive of outsourcing group Capita, with bank finance provided by Santander. The sale price of the £47m turnover business was not disclosed.

The company was founded in 1974 by the late Drew Foster as Caribbean Connection, a specialist operator offering luxury holidays. Mr Foster died in 2009 and the business, which rebranded as ITC Classics in 1992, and before this deal was owned by his family estate.

His wife June Foster will retain a shareholding along with other member of the management team. Mr Pindar will chair a new parent company called The Luxury Travel Group.

Ms Atkinson, who joined the business 10 years ago and has led it for the last five, said: “We are excited about this new phase for ITC. Paul brings huge amounts of experience on company development and shares our ambitions to make ITC the leading luxury holiday provider in the country. We look forward to showcasing stylish holidays, sports tours and the very best hotels with our continued focus on excellence. We have built a brilliant team and we all look forward to leading the business to the next phase of its success.”

Mr Pindar, said: “I am delighted to be involved with ITC because the company has a high quality management team which is focused on providing an exceptional luxury travel experience at a competitive price. There are many opportunities to grow our offering in the luxury travel market and I look forward to working with the team to develop products for the benefit of our loyal customer base.”

The business has around 100 staff in Chester, Harrogate, Preston and Barbados.