Explaining the reasoning behind the deal, Segal informed GrowthBusiness, ‘we were already the largest hotel reservations business of our kind in the UK, yet we were keen to expand further – so when we were approached with the opportunity of acquiring Venue Resource we decided to just go for it.’
Unusually, no advisers were involved in the transaction. Instead, as Segal explains, ‘we happened to know Simon Lester [Venue Resource’s chairman and chief exec] already and managed to sort things out between ourselves.’ Lester has decided to step down post-merger and Segal will now gradually begin to migrate Venue’s operations into Expotel’s Kilburn offices.
The combined group can count the likes of the Ministry of Defence and gas transportation giant Transco among its established client base.
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