The Advanced Travel Partner (ATP), a corporate travel and event management company, has been bought by its directors in a deal backed by Lloyds Development Capital (LDC), the investment business of Lloyds TSB, for an eight-figure sum.

The Advanced Travel Partner (ATP), a corporate travel and event management company, has been bought by its directors in a deal backed by Lloyds Development Capital (LDC), the investment business of Lloyds TSB, for an eight-figure sum.

According to LDC, the deal was worth £42.2 million, with the bank investing £16 million. Lloyds TSB Corporate Markets’ Acquisition Finance team provided senior debt.

The buy-out was led by group chief executive Graham Ramsey and commercial and operations executive John Jansen. Joining them on ATP’s board will be Ian Sinderson and Willem Starink, with John Donaldson, a former chief executive of Thomas Cook, becoming non-executive chairman.

Under the terms of the funding agreement, LDC’s investment directors Ray Stenton and Jonathan Bell join ATP’s board.

ATP was sold by investment trust Archand Capital Investments, a subsidiary of Dutch investor Reggeborgh.

LDC was advised on its investment by Addleshaw Goddard, which used a team of lawyers from the UK, the Netherlands, the US and France. The buy-out team was represented by Halliwells, while Lloyds TSB Corporate Markets was assisted by Eversheds.

London-based ATP manages the travel arrangements of companies and organisations in the oil and gas, financial and legal services, retail and sport sectors. It also provides conference and event management services, as well as specialist sports and leisure packages. The company has offices in the Netherlands, Belgium, France, Norway and the US.