TripActions Buys Pandemic-Hit UK Corp Travel Agency Reed & Mackay
Photo Credit: Reed & Mackay has a reputation for having clients at the higher end of the market, including many law and financial firms. Unsplash / Zahir Namane
Skift Take
The hunter becomes the hunted.
The corporate travel sector is gripped by a wave of consolidation. Reed & Mackay, one of the UK's most acquisitive travel agencies, now finds itself on the receiving end following its sale on Wednesday to U.S.-based TripActions.
This follows the news on Tuesday that American Express Global Business Travel has made a bid to acquire Egencia, Expedia Group’s corporate travel arm.
After almost five years, it appears Reed & Mackay's private equity owner Inflexion has thrown in the towel, since backing a buyout of the premium corporate travel management company in 2016, taking it off the hands of ECI and Livingbridge.
It has been a difficult year for Reed & Mackay, which slashed its workforce by almost half due to the pandemic. The travel agency was exposed more than most companies because it specializes in a concierge, "white glove" style service for its demanding clients. They tend to be lawyers, rather than construction workers, so bookings abruptly stopped.
