A travel group has completed its second acquisition in a week after buying a conference management company. Western & Oriental plc (W&O), which acts as a tour operator and travel agent, bought Eclipse Conference Management as part of its buy and build strategy.

A travel group has completed its second acquisition in a week after buying a conference management company. Western & Oriental plc (W&O), which acts as a tour operator and travel agent, bought Eclipse Conference Management as part of its buy and build strategy.
Some £3.1 million was paid on completion in cash and shares with the terms of the deal including a deferred payment of up to £1 million, if agreed profit targets are achieved this year.

This deal was completed four days after W&O bought tour operator Key2Holidays for £1.7 million and is its ninth acquisition since it joined AIM in March last year.

Buying Eclipse is intended to strengthen W&O’s conference and incentive business, which includes Lynton Cooper and Travel Management Team. The acquired business, which will relocate to the group’s new central London offices, takes the division’s turnover to some £12 million.

W&O’s chairman, David Howell, says this will not be not the last of the group’s acquisitions: ‘Discussions continue with a number of other potential acquisitions as we continue our buy and build strategy.’

Eclipse was established ten years ago. Its clients include pharmaceutical companies and government agencies. Last year, the company made a profit before tax of £600,000 from sales of £6 million.