A travel agent which specialises in transporting aid workers to warzones is close to changing hands in a deal worth about £40m.
Sky News understands that Diversity Travel, which was founded in 2008, is on the verge of being sold to Primary Capital, a private equity firm.
City sources said on Tuesday that a transaction could be finalised within weeks.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Diversity Travel, which works with charities and other non-profit organisations, has helped transport aid workers into Ukraine since the Russian invasion, as well as into Syria and Turkey after the catastrophic earthquake in February which killed thousands of people.
It has also worked in conflict zones in countries from Afghanistan to Yemen.
One travel industry executive said the impending deal formed part of a wider trend which was seeing a string of business travel companies put up for sale.
TAG Group, another sizeable player in the market, recently hired bankers at Rothschild to oversee a sale process.
Source: SKY NEWS
Can’t stop reading? Read more
Trader Joe’s-anchored retail portfolio sold to Bain Capital and 11North in $212m deal
Trader Joe’s-anchored retail portfolio sold to Bain Capital and 11North in $212m deal Bain Capital...
Armònia Italy Fund II merges three firms to create high-tech manufacturing group
Armònia Italy Fund II merges three firms to create high-tech manufacturing group Armònia Italy...
TPG and Aquarian in final race for $3.4bn Brighthouse Financial acquisition
TPG and Aquarian in final race for $3.4bn Brighthouse Financial acquisition Private equity...