Inflexion has sold its investment in Reed & Mackay, a premium corporate travel management and events business, to TripActions, a US headquartered business travel and spend management platform.
The deal follows a nearly five-year partnership which saw the business grow strongly and adapt to the pandemic trading situation.
Inflexion invested in Reed & Mackay in 2016 and supported its UK and international growth both organically and through acquisitions in the UK, Germany, France, Australia and Chicago. The firm also opened new offices in New York, California, Toronto, Singapore, Amsterdam and most recently India, with the support of Inflexion’s country expert in Bangalore. Our digital team also supported the development of Reed & Mackay’s digital customer facing offering, which provided an enhanced user experience and drove online sales and higher margins.
Fred Stratford, CEO of Reed & Mackay, says: “Inflexion were a tremendous partner, with their experience in international growth organically and acquisitively a real boost to our development. Their unwavering support as business stalled in 2020 was crucial; they helped us manage the business in very difficult circumstances and kept us looking ahead so that we are well placed for the return of travel. We look forward to our next phase of growth with TripActions.”
Simon Turner, Managing Partner of Inflexion, adds: “Reed & Mackay benefits from a strong, international, tech- enabled service offering and saw significant growth after our buyout until the start of last year. Whilst the travel industry was understandably badly hit by the pandemic, we worked closely with management to help them navigate the challenging market. Reed & Mackay are well placed as the travel market re-opens and we wish them all the best for their continued growth.”
