BGF Backs Statesman

UK-based Business Growth Fund has backed Statesman Travel Group, an independent travel management company providing a comprehensive service to blue chip corporate and private clients. BGF has invested 4.25 million pounds ($6.71 million) of growth capital in Statesman for a minority stake. The backing will enable the strategic acquisition of Commodore Corporate Travel and will make the combined entity one of the top 10 UK travel management companies in terms of transactional volume, with revenues approaching 100 million pounds ($158 million).

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