Barclays Private Equity has taken a majority stake in travel management company ATP International Group in a £73m (€92m) deal.
Barclays has taken the stake in a secondary buyout from LDC, which invested £36m to acquire the business in December 2006.
ATP arranges flights, accommodation and events for 5,000 clients across sectors ranging from oil and gas, technology and government to sports and finance.
ATP has annual revenues of more than £410m and has operations in Europe, the US and Dubai.
Barclays plans to grow the business organically and through acquisitions.
Under LDC, staff numbers grew by more than 20 per cent to almost 900.
Debt funding for the deal was arranged by Lloyds TSB Corporate Markets.