Inflexion exits Reed & Mackay, the premium corporate travel management and events business. Inflexion has sold its stake in Reed & Mackay to TripActions, a US business travel and spend management platform.
Inflexion invested in Reed & Mackay in 2016 and supported the business's growth in the UK, Germany, France, Australia and the US. Reed & Mackay also opened new offices in New York, California, Toronto, Singapore, Amsterdam and most recently India.
Fred Stratford, CEO of Reed & Mackay, said: "Inflexion were a tremendous partner, with their experience in international growth organically and acquisitively a real boost to our development. Their unwavering support as business stalled in 2020 was crucial; they helped us manage the business in very difficult circumstances and kept us looking ahead so that we are well placed for the return of travel. We look forward to our next phase of growth with TripActions."
Simon Turner, Managing Partner at Inflexion, added: "Reed & Mackay benefits from a strong, international, tech-enabled service offering and saw significant growth after our buyout until the start of last year. Whilst the travel industry was understandably badly hit by the pandemic, we worked closely with management to help them navigate the challenging market. Reed & Mackay are well placed as the travel market re-opens and we wish them all the best for their continued growth."
