It follows its purchase of CTM last December – its fifth acquisition in three years.

The acquisition of Giles Travel puts family-owned Gray Dawes Group’s turnover in excess of £150 million and pushes employee numbers beyond the 200 mark.

The move also sees Giles Travel’s specialist MICE division, Globe; leisure division, World by Design; and brand and marketing agency, Square1, join the Gray Dawes Group.

Suzanne Horner, chief executive of TTG Top 50 2017 shortlisted agency Gray Dawes Group, said: “This is an exciting period for Gray Dawes, our employees and loyal clients.

“Our company has grown rapidly through organic sales and acquisition; this latest chapter in our development is the jewel in the crown to a highly successful 2018. That is not to say, however, that it is our final acquisition of the year.”

She added: “I have long admired the business that David Giles and the whole team have built. Giles Travel is renowned across the industry and has outstanding staff.”

David Giles, chairman of Giles Travel, said: “Both Gray Dawes and The Giles Group have invested heavily in staff as well as client facing and back office technology.

“I am very excited by the opportunity to work with Suzanne and her team.”