The move for the Glasgow-based firm is its third buyout in just the past four years.

EFR says the deal places it in the UK’s top 40 corporate travel providers.

WD offers a full service corporate travel management service with clients from across shipping, advertising, entertainment and IT.

Edward Rom, EFR founder and chief executive, said: “We look forward to working with [the WD team] to build up their very successful business still further.

“With their established client base and Scottish heritage, they complement our existing corporate travel businesses, EFR Corporate Travel and CSR Travel, perfectly.”

George Glen, WD Travel director, said the deal mark a “new stage” in the company’s history. “We are looking forward to continued development, growth and prosperity as part of this highly regarded travel company.”

John McEwan, EFR chairman, added: “As our third acquisition in four years, the addition of WD Travel to the EFR portfolio is part of our ongoing strategy of growing both organically and through the acquisition of appropriate companies.

“We now have a fantastic collection of travel businesses, ranging from corporate travel to private jets and luxury tour operators, and we look forward to developing this still further over the coming years.”