Gray Dawes has announced the acquisition of Redhill-based CTM for an undisclosed sum.
The group says the deal was confirmed on December 1 and is its fifth acquisition in three years, having previously purchased Travel Management Group and Cambridge Business Travel, Travel Focus Limited, and the Business Travel Partnership. Gray Dawes says all CTM staff will be retained as part of the deal, with operations moving to the group’s central London office.
Suzanne Horner, CEO of Gray Dawes Group, commented: “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 focussed 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.”
Phil Cook, CEO of CTM’s parent company P&P Group, added: “I am delighted to be handing over the reins of CTM to Suzanne and the team at Gray Dawes Group. Their expertise in business integration is second to none and being part of a much larger travel organisation will deliver a range of new opportunities to CTM staff and clients alike.”
Gray Dawes Travel ranked 21st in our 2017 50 Leading TMCs, while CTM came 28th.