Australia’s Corporate Travel Management (CTM) has agreed to acquire Travel and Transport, Inc. (T&T) including its Radius Travel business for AUD$274.51m (US$195.36m).
T&T is a US travel management company while Radius Travel is a global network of corporate travel agencies in more than 100 countries, with a hotel programme that offers corporate rates across 44,000 hotels in 160 countries.
Following the acquisition, which boosts CTM’s presence in the United States, T&T will be rebranded to CTM. T&T’s Kevin O’Malley will become CEO North America, Maureen Brady as COO, Josh Weiss CFO and Tim Fleming as president and integration lead. The companies’ joint sales were put at US$7.6bn in 2019 and the deal is the largest TMC deal in the States since the start of the pandemic.
CTM founder and managing director, Jamie Pherous (pictured), said: “We are excited to bring our two companies together under the CTM umbrella. Travel and Transport has an incredible reputation and a long history of success within the global travel industry, and we have shared views about delivering personalised service and proprietary technology to generate strong returns for clients on their travel investments.
Maureen Brady added: “The acquisition will give CTM optimal scale in North America to create revenue synergies and new client benefits by leveraging increased buying power and the best of our technology, analytics and customer insights across the wider business. We very much look forward to working as a combined team to ensure our customers and employees receive the best benefits and greatest opportunities.”
T&T CEO, Kevin O’Malley, said: “Travel and Transport has been in business for 74 years, growing from a one-person operation in Omaha, Nebraska, to one of the largest corporate TMCs in the US.
“We are excited about the opportunities for our people and our clients by becoming part of a growing, world-class TMC. We were very impressed with CTM’s technology, in particular the Lightning online booking tool, and CTM’s strength in the Asia pacific region. CTM will be a great place for our employees to call home.”