Ensemble Travel Group shareholders have voted in favor of an acquisition by Navigatr Group, a travel investment firm that owns Kensington Tours, Travel Edge and TripArc. According to Ensemble, the deal is expected to close at the end of the month and create a new and innovative consortium model.
"We are very pleased that the shareholders saw the myriad opportunities this deal offered for them, from access to new technology and resources to the ability to streamline supplier contracts and programs,” said David Harris, CEO of Ensemble Travel Group (who will now assume the role of chairman), in a statement. “Among the many benefits is that Ensemble members will be able to transact as they have always done, but with access to additional revolutionary travel platforms such as ADX, which offers agents instant commission visibility, one-click insurance and more to improve efficiencies and earnings.”
The new Ensemble is truly poised for significant network growth to deliver for all of our stakeholders.
With Harris transitioning to the role of chairman of Ensemble, Michael Johnson of Navigatr will become president. Johnson most recently served as president of Travel Edge.
“As I have come to know the Ensemble team and members over the past several months, I am more confident than ever of the value that this new consortium model represents,” Johnson said. “It’s been very gratifying to hear from members about their excitement at the additional opportunities and resources that will be available to them to grow and enhance their businesses. The new Ensemble is truly poised for significant network growth to deliver for all of our stakeholders.”
Ensemble was established in 1968 and is currently a member-owned organization with more than 600 independently owned travel agencies in the United States and Canada.
The acquisition process has been criticized by Hickory Global Partners, which accused the Ensemble Board of Directors of withholding competing bids, including Hickory’s.
In a press release, Chris Dane, president of Hickory Global Partners, accused Ensemble's board of failing its fiduciary responsibility.
"They are rushing to cram through a vote while withholding key information and competing offers,” Dane said.
