Key Travel has announced a total acquisition of Holland-based travel management company Raptim Humanitarian Travel that will see the businesses merge.
According to Key Travel, the merger will create total sales approaching £350 million, with more than 500 employees in ten countries.
The combined businesses are exclusively focused on the humanitarian, faith-based and academic sectors.
Saad Hammad, CEO of Key Travel, commented: “A combination with Raptim is an exciting opportunity for Key Travel. The strategic rationale is strong: undisputed leadership in humanitarian, faith-based and academic travel globally, a doubling in scale in the US and a significant complementary platform in Mainland Europe. There are many economic synergies, given the high level of sector, geographic and systems overlap. Above all, both organisations are people focused and values driven, with emphasis on compassion and service. A combination will enable us to serve our customers better, collaborate more effectively with our suppliers and offer more development opportunities for our people.”
Eduard Kimman, chairman of the board of Raptim, added: “Key Travel’s acquisition of Raptim is a huge win-win. It provides a major growth opportunity for both our businesses through a strengthened and expanded service offering for our customers and markets and a platform to leverage complementary skills and capabilities. We will benefit from a singular investment in technology and our scale and sales momentum gives us an opportunity to retain and energise talented and passionate employees. Key Travel like Raptim is all about respect, responsibility, expertise, compassion and customer service and so the cultural fit is strong.”