A company started by one York family in 1973 has been sold for a reported £200 million.
Great Rail Journeys, which provides tours around the world, has been acquired by private equity firm Vitruvian Partners.
The travel company, which is based in the Hudson Quarter off Toft Green, was previously bought by another private equity company Duke Street Capital in 2018 for £100 million.
Great Rail Journeys was founded in York in 1973 as a family-run business focused on rail tours in the UK and around Europe.
It has grown fast in recent years, despite the pandemic, with total transaction values rising from £88m in 2018 to about £175m in the current financial year.
It offers a range of “premium, experience-led travel” with 400 itineraries to more than 40 countries.
Dave Riley, chief executive of Great Rail Journeys, said: “I would like to thank the Duke Street team for their support over the last seven years. The business has transformed in that time becoming the leading multi-source travel business in our sector.
“We’ve tripled the size of our US business, achieved market leading growth in the UK, and grown beyond rail with the addition of our European river cruises and wider land touring programme.
“For 50 years, we’ve set the standard in escorted tours for both new and returning customers and I am excited about the next chapter of our journey. I look forward to working with Vitruvian to deliver on our growth ambitions.”
Ben Johnson, partner at Vitruvian Partners, said: “We are excited to partner with Dave and his team and share their ambition for the company to become the global market leader in escorted travel, catering in particular for those at a stage in life with time to enjoy discovering magical destinations by rail and river.
“We recognise in Great Rail Journeys a business with many growth avenues and a very attractive demographic to continue to serve. We look forward to working with the team in the years ahead.”