All change as Great Rail Journeys does fourth private equity deal

Vitruvian Partners adds another travel business to its portfolio

Hello Rainmakers,

Michael Portillo has a lot to answer for. Not only has the former politician re-invented his own personal brand as ‘choo-choo’, the geeky train enthusiast, but it’s contributed to the enthusiasm for a fourth private equity deal for the York-based train tour company.

Sheryl Moore waves the green flag and toots the whistle as the loco pulls out of the station on its quaternary buyout journey.

After a deal reportedly worth £200m, luxury tour operator, Great Rail Journeys, (GRJ) is now in the hands of its fourth private equity house, Vitruvian Partners. Fifty years on from what was founded as a hobby by a couple of British Rail workers, GRJ is now going full steam ahead to become the global market leader in escorted tours for the over 55s.

‘A train ride is not just a journey; it’s an experience of a lifetime.’ (Anon).

There’s a sense of nostalgia and romance that comes with train travel. It evokes feelings of stepping back in time to the golden age of the railways – smoke billowing from the engine, the sound of the whistle, the kiss on the platform and hours spent watching the green fields whizz by.

Despite the daily grind of leaves on the line, packed commuter trains and frequent cancellations, rail travel has enjoyed something of a renaissance over last decade or so, perhaps fuelled, in part, by the former Tory MP turned travel journalist Michael Portillo. Armed with his trusted Bradshaw railway guides his TV series, Great Railway Journeys, which have been sponsored by York-based GRJ, have taken him across Asia, Alaska, America, Africa and Europe by rail.

The series has been a huge hit with viewers across the globe and its longevity has been helped by the ongoing sponsorship by GRJ. In turn, the shows have been a huge commercial success for GRJ which offers tours inspired by the show.

GRJ, from its headquarters in York, offers a portfolio of multi-modal, premium tours - by rail, river and more - with around 400 itineraries to more than 40 countries globally.