A private equity firm is targeting up market travel firm Audley Travel according to weekend reports.

Founders Craig Burkinshaw and John Brewer are in line for a major payout by selling a “significant” stake in the Oxfordshire-based business in a deal reporedtly valuing it at about 95 million.

Phoenix Equity Partners, owner of Filofax and Musto sportsware, was identified by “insiders” as the likely suitor, according to the Sunday Times.

The funding would support expansion by Audley in the US, the Sunday Times reported. Burkinshaw and Brewer are expected to stay on at the company which employs 170 staff.