Case Studies

Case Study: ATP

The Company:

ATP is a leading travel management company which specialises in complex travel arrangements for clients operating across a number of sectors, including oil and gas, government, technology, sports and finance.

Added Value:

  • In 2006 The management team of ATP bought the company in a €63m transaction from Dutch investment company Reggeborgh, as part of the deal, LDC invested £36m
  • Post the transaction John Donaldson, former Deputy Chairman of Thomas Cook and current Non-Executive Chairman of LateRooms.com was appointed as Non-Executive Chairman
  • LDC worked closely with management throughout the investment to deliver significant value creation and enhanced performance across the group
  • In 2007, the business achieved No 34 in the Sunday Times Top 100 fastest growing companies backed by private equity

Outcomes:

  • In 2008, only 20 months after original investment LDC exited its investment in ATP through a £73.5m secondary buy-out backed by Barclays Private Equity (now known as Equistone)
  • During the 20 month investment, the business has continued to outperform its competitors, delivering sales and profits ahead of plan while increasing its headcount by 23% to almost 900
“Our focus on providing high quality customer service backed by market leading technology has enabled the business to generate significant customer loyalty and grow revenues consistently in recent years. “The backing of a professional investor like LDC allowed us to accelerate that growth with confidence.”
Graham Ramsey, Group Chief Executive

Highlights:

  • Fastest growing business travel company
  • €63m transaction
  • NEC recruited
  • No. 34 in Sunday Times FastTrack
  • 23% increase in employees
  • £73.5m SBO