Great Rail Journeys has been sold in a deal understood to be worth more than £200 million.
The rail holiday operator has been acquired by Vitruvian Partners from previous owner Duke Street Capital, which had bought the company for about £100m in 2018.
Vitruvian Partners has previously invested in Skyscanner and JacTravel and currently holds stakes in Sykes Holiday Cottages, Travel Counsellors and OAG.
The buyout will not lead to any immediate management changes, and Chief Executive Dave Riley will remain in charge.
Vitruvian partner Ben Johnson said: “We are excited to partner with Dave and his team and share their ambition for the company to become the global market leader in escorted travel, catering in particular for those at a stage in life with time to enjoy discovering magical destinations by rail and river.”
