OTA and bedbank retains management team as it ‘bounces back’ from the pandemic
GC Partners chief agrees deal to acquire Broadway Travel and Beds With Ease
Travel agency Broadway Travel and trade-only bed bank Bedswithease have been acquired by private investor Nathan Bullas for an undisclosed amount.
A statement from Broadway announcing the investment said: “Bullas has over 21 years’ experience in the regulated financial services sector and is a major shareholder and board executive in businesses across leisure, hospitality, property development, technology, retail and financial sectors.
“Through his entrepreneurial vision and keen business acumen, he has successfully formed, invested and grown these businesses to an accumulated value of over £150 million.”
Bullas said: “I am looking forward to expanding my portfolio into the travel sector where I believe there are synergies with my existing businesses.
“I look forward to working with the existing teams and providing a sounding board for the management team to allow us to grow the business back to its pre-pandemic levels and beyond.”
Bullas is also chief operating officer at GC Partners, a specialist financial services provider.
Broadway Travel and Beds With Ease were previously independently owned.
The statement from Broadway said its board and management team will remain the same, “with the investment allowing the business to bounce back from the pandemic quicker than originally forecasted”.
Adam Pardini, chief executive at Broadway Travel, added: “This investment from Nathan enables the business to forge ahead with our existing plans and fuel the anticipated growth and demand in the coming months.
“It is a strong testament to the management team that Nathan shares the belief and vision for the businesses in this uncertain period, we welcome his entrepreneurial style and look forward to the future with Nathan’s backing.”
Broadway Travel has call centres in Luton and Newcastle.