Gray Dawes Group has acquired business travel specialist Amber Road Travel from private equity firm Endless LLP.
The acquisition is Gray Dawes’ ninth since 2015 and will further reestablish the TMC’s presence in the north of England following its purchase of INC Travel Group nine months ago.
It will also push the TMC’s turnover past the £200 million mark and its employee count towards 300.
Suzanne Horner, Gray Dawes chief executive, said: “Contrary to expectations, we weren’t necessarily looking to make any acquisitions in 2019 but the opportunity to acquire a highly respected business such as Amber Road Travel was a prospect too tempting not to explore.
“We have built clear criteria when assessing acquisition opportunities and our joint business synergies quickly became clear. The quality of their workforce, diversity of client base and presence in Manchester and Leeds means I am hugely excited about welcoming them to the Gray Dawes Group.”
John McEwan, outgoing chairman of Amber Road Travel, said: “I am in no doubt joining the Gray Dawes Group is perfect for the future success of both the Amber Road team and clients alike.
“The dynamism and passion shown by Suzanne and her team throughout the acquisition process were infectious, and I look forward to following the ongoing success of the newly combined businesses.”
James Woolley, partner at Endless LLP, added: “We hope joining forces with Gray Dawes is an exciting outcome for the loyal workforce at Amber Road.
"We would like to thank all the Amber Road team for their hard work and dedication in delivering excellent service and customer care to their blue chip client base and we wish them and Gray Dawes the very best of success in the future.”
Since 2015, Gray Dawes has acquired The Business Travel Partnership, Travel Focus, Travel Management Group plc, Cambridge Business Travel, ctm Travel Management, Giles Travel, INC Travel Group and VIP Leisure.