LDC has sold its majority stake in travel management company CTI to Endless.
CTI provides business travel consultancy and booking services. It has been operating since 1984, with clients including BT, The White Company and Pets At Home.
Based in Manchester, CTI has further offices in Bristol, Hull, Leeds and Liverpool and has turnover of £77m. The company is led by chief executive Clive Wratten.
LDC backed the company, then known as TD Travel, in March 2012. It rebranded to CTI the following year after the bolt-on acquisition of Bristol-based Hotelscene.
LDC will retain a small stake in the business.
Endless partner Mathew Deering led the deal, supported by Kerry Battiscombe and Jon Duffy.
“This is an exciting opportunity in a consolidating sector and we also intend to pursue bolt-on acquisitions as part of our investment strategy,” said Deering.
DWF, KPMG and Park Place Corporate Finance advised Endless. LDC was advised by Squire Patton Boggs and Sentio.