Travel management company Diversity Travel is set to expand its presence in Europe and the US following a “significant investment” by private equity firm Primary.

The TMC, which specialises in the humanitarian, academic and not-for-profit sectors, said the undisclosed investment amount will support the “strong growth momentum” it experienced both before and after the pandemic.

Diversity CEO Chris Airey said: “We are excited to announce this investment and to partner with Primary as we embark on the next chapter of our development. 

“We look forward to continuing to support customers and building Diversity into a truly global operator across the markets and geographies we serve.”

As part of the buyout deal, Primary provided equity finance alongside management, as advised by Clearwater International, while UK-based private banking company ThinCats provided debt facilities. 

Alec Parkinson, partner at Primary, added: “We are thrilled to be working with Chris and the Diversity team to support the company’s next stage of growth through investment in technology, international expansion and service offering development.”

Diversity Travel is ranked 16 in the UK in BTN Europe’s Leading TMCs 2023 report.