American Express Global Business Travel has signed an agreement to acquire Banks Sadler, an international event management agency headquartered in London.
The company will operate as part of American Express Meetings & Events, a division of GBT.
When the transaction completes, expected in quarter three, the company and its staff will formally become part of GBT.
Issa Jouaneh, senior vice president and general manager of American Express Meetings & Events, said the acquisition is strategic for his organisation and a positive development for Banks Sadler and its customers.
He explained: “Banks Sadler is one of the most respected M&E brands.
“It brings an extensive range of services and solutions with an independent agency mindset that we will maintain and grow.
“Combined with American Express Meetings & Events leading capabilities and global footprint, our clients will benefit from an expanded value proposition.”
Banks Sadler was founded in 1982 in London and has offices in York, Windsor, Paris, Dusseldorf and New York.
It has approximately 250 employees.
Over the last 35 years, the business and brand have established themselves among the most trusted in the marketplace.
Under the leadership of Leigh Jagger, the company has expanded its service and portfolio to multiple marketplaces.
Jagger said: “The sale is a pivotal moment.
“Though customers will not notice any change, the business is now supported by one of the largest travel and meetings management companies in the world.
“We will, therefore, continue to offer best-in-class, event planning and management while benefitting from American Express Meetings & Events’ supplier relationships, global scale and expertise of strategic meetings management programmes.”