Corporate Travel Management extends global reach with two acquisitions
The $69 million acquisition of Redfern Travel will make CTM one of the top seven corporate travel management companies in the UK.
“Redfern Travel’s key competitive advantage is its proprietary, automated end-to-end system, which processes more than 95 per cent of all transactions online, creating a highly scalable operation,” said CTM managing director Jamie Pherous.
“Redfern meet CTM’s strict acquisition criteria as they possess a highly experienced and passionate management team, are leaders in innovative technology, and will create opportunities for growth in the UK and European markets.”
The $5.6 million acquisition of Andrew Jones Travel will cement CTM as the second largest corporate travel management company in Australia, and allow the company to expand its position in the government and sporting industries.
“Andrew Jones Travel is a long-standing and well-regarded corporate travel company, and operates on the same core systems as CTM, allowing for seamless integration and synergy,” Pherous said.
“With its niche in national sporting bodies and government departments, and location in a valuable region for aquaculture and export, we are confident Andrew Jones Travel will easily integrate into CTM’s Australian network.”