London-based event management agency Banks Sadler is being taken over by American Express Global Business Travel for an undisclosed sum.
The company will operate as part of American Express Meetings & Events, a division of Amex GBT.
The company and its 250 staff will formally become part of GBT when the deal is completed in the third quarter of the year.
The acquisition follows deals for travel technology provider KDS and Finnair subsidiary SMT last year.
Banks Sadler was founded in 1982 in London and has offices in York, Windsor, Paris, Dusseldorf and New York.
Under the leadership of Leigh Jagger, the company has expanded its service and portfolio to multiple marketplaces.
Jagger said: “The sale is a pivotal moment. Though customers will not notice any change, the business is now supported by one of the largest travel and meetings management companies in the world.
“We will, therefore, continue to offer best-in-class, event planning and management while benefitting from American Express Meetings & Events’ supplier relationships, global scale and expertise of strategic meetings management programmes.”
American Express Meetings & Events general manager Issa Jouaneh said: “Banks Sadler is one of the most respected M&E brands. It brings an extensive range of services and solutions with an independent agency mindset that we will maintain and grow.
“Combined with American Express Meetings & Events leading capabilities and global footprint, our clients will benefit from an expanded value proposition.”
Steven Curts, American Express GBT chief strategy officer, added: “In transient business travel and meetings and events, our focus is always on improving customer experience, product offering and global footprint through strategic acquisitions, partnerships and organic growth.
“The purchase of Banks Sadler is another important step on our strategic journey.”