Two UK TMCs confirm acquisitions
Travel management companies Reed & Mackay and Gray Dawes have each confirmed acquisitions this week as the market further consolidates.
London-based Reed & Mackay has expanded its overseas footprint with the purchase of Frequent Flyer Travel Paris (FFTP).
“Following on from the launch of the international partnership in April and the investment in German-based travel management company, Moll Travel, the acquisition of French TMC, Frequent Flyer Travel Paris (FFTP) creates further opportunities to deliver the extraordinary service we are known for,” says Reed & Mackay CEO Fred Stratford.
Among other benefits, the deal will bolster the company’s duty of care provision through FTTP’s integrated geolocation service.
Gray Dawes, meanwhile, has acquired Surrey’s CTM (formerly known as Chelsea Travel Management).
The deal - Gray Dawes’ fifth acquisition in less than three years - will take the company’s annual turnover to around £120million.
Commenting on this latest purchase, Suzanne Horner, CEO of Gray Dawes Group, said “We continue to execute on our multi-year acquisition plan and I am delighted to welcome CTM employees and clients to the Gray Dawes Group. Since the outset, we have been focused on identifying businesses that share our ethos and culture of innovation coupled with unflinchingly high levels of customer service; CTM comfortably ticks all those boxes.”