ECI and ISIS invest in Reed & Mackay

ECI has invested in Reed & Mackay, the leading provider of strategic business travel management services. The investment will be used to continue to grow the high quality and value added services Reed & Mackay delivers to its clients.

In 2005 ISIS invested £4.87m on behalf of the Baronsmead VCTs in Reed & Mackay for a significant minority stake, when Chief Executive Richard Boardman was seeking an investment partner to help him and the team take the business to the next level of growth.

Established in 1962, Reed & Mackay has grown to become the leading Strategic Travel Management business, providing business travel services to many of the City's top legal firms and companies within the finance and insurance sectors.  The company specialises in business travel, event management and a high end bespoke leisure travel service to private clients.

Andy Hibbert, Managing Director of Reed & Mackay, commented:

“We are delighted to have ECI co-investing with ISIS. They share the vision of preserving our culture which is key to our success, whilst supporting us in our development of products and services that will provide more value to our existing and future clients.”

Chris Watt of ECI Partners, commented:

“We are delighted to be investing alongside ISIS in Reed & Mackay. We were attracted to the business due to its niche positioning and exceptional service delivery to its clients. I am looking forward to helping Andy and all the team at Reed & Mackay continue to develop the business.”

Since 2005 turnover has more than doubled, with the company values, culture and high quality of service to clients being maintained throughout.

Pete Clarke, who led the investment for ISIS in Reed & Mackay in 2005 and managed the divestment commented:

"Reed & Mackay has proven to be a great investment in to a high quality business, with a first rate team throughout the organisation. The business has grown significantly since our investment in 2005. It was critical for us all to understand that the culture of the business has been key to the delivery of outstanding service and value to its clients.  As the business has grown we have worked hard to ensure that the family business we invested in has become a more professional business but nonetheless retains those family values which are at the heart of service excellence."

Deloitte acted as corporate finance advisors to the investors while Livingstone carried out the same role for the vendors.  Tyler Mangan provided management due diligence.  Tyler Mangan is a specialist consultancy that works with senior executives and leadership teams to build the infrastructure and capabilities within their organisations.