Gray Dawes Travel makes double acquisition

Gray Dawes Travel makes double acquisition

Travel Management Group and Cambridge Business Travel have both been acquired by Gray Dawes Travel in simultaneous deals.

The value of the acquisitions has not been disclosed as Gray Dawes heads towards being one of the UK’s 20 largest travel management companies.

The takeovers follow Gray Dawes’ acquisition of Business Travel Partnership and Travel Focus last year.

Gray Dawes, listed as 29th largest TMC in the UK, has annual sales of £46 million while TMG, the 36th largest, has sales of £38m.

The annual sales of CBT have not been disclosed.

Gray Dawes chief executive Suzanne Horner said: “Having Travel Management Group and Cambridge Business Travel join Gray Dawes brings 2016 to an exciting and satisfying close.

“The goal has been to propel our business into one of the 20 largest TMCs in the UK trading in excess of £100m per year.

“These acquisitions enable us to achieve this strategic position in 2017.

“The staff and customers of both companies are an excellent fit for Gray Dawes and their locations of Leamington Spa and Cambridge provide us with new geographic opportunity.

“Together with our recent appointment as member of Radius Travel, Gray Dawes now brings the benefits of scale and global reach to our ever-growing customer base.”

TMG chairman Ian Dunwoody said: “Gray Dawes’ acquisition of TMG provides a major growth opportunity for both our business and extended services for our clients.

“With the stability and backing of one of the longest established TMCs in the country, TMG customers will benefit from even wider products, services and innovation.”

Stuart Scott, joint managing partner at Cambridge Business Travel, added: “CBT has reached a point where both our customers and employee team will benefit from the scale and resources that Gray Dawes has at its disposal.

“We are excited about the path on which CBT will now travel and the enhanced product and service opportunities that this will bring to our customer base.”

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