Former Tui Travel boss Ian Finlay is looking to buy more specialist businesses seven months after acquiring tour operator Andante Travels.
Finlay bought Andante Travels, which specialises in archaeological tours, in April this year from previous owner Annabel Lawson with private equity backing. She remains a consultant to the business.
Prior to that, Finlay had been managing director of Tui’s education division and responsible for buying scores of companies for the travel giant, including Exodus, Edwin Doran Travel and Gullivers Sports Travel, between 2006 and 2012.
Finlay said he is currently in talks with five companies.
“We are at an early stage with these companies. Not all five will get anywhere near completion. I am confident that we will get to completion on two by Easter,” he revealed.
All of the companies are UK-based, except for one, said Finlay, who has identified niche areas to expand into which fit with Andante’s existing customer base. These include architecture, wildlife, art history, culture, music and walking tours.
“We have done a lot of research with our customers, talking to them about their other hobbies and interests,” added Finlay. “Any acquisition has to be led in the same way as the purchase of Andante was, by focusing on a high quality product and a company with fantastic staff. “
Andante is set to finish the year 28% up compared to sales in 2012 and is trading 41% up for 2014. Since it was bought it has taken on eight new staff and is in the process of moving to larger offices.
It is also looking at ways to expand further. “We are investing in new source markets for overseas travellers who want to book our holidays,” said Finlay. “We are broadening our product range. If we want to grow we need to broaden our range to attract a different demographic.”
The company is also “open” to working with travel agents, said Finlay. It has already started to work with some Aito agents. “I am open to it if agents think it fits with their customer profile,” he said.