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Travel industry news

22 Feb 2019

BY Tom Parry

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TRFBLI

Gray Dawes seals double acquisition

Gray Dawes Group has agreed a deal to purchase part of Inc. Travel Group and an entire takeover of Vip Leisure Travel in a double acquisition.

Mergers and acquisitions, M&A

The move follows Gray Dawes’ purchase of Giles Travel in November and takes its number of acquisitions over the past four years to eight.

 

Gray Dawes has taken over Inc. Travel’s corporate and marine businesses, helping the company establish a strategic presence in Manchester alongside its offices in London, Amersham, Cambridge, Colchester and Leamington Spa.

 

Outgoing Inc. Travel chief executive, Bill Tannahill, will retain the Fairway International sports business that was previously part of Inc. Travel.

 

Suzanne Horner, Gray Dawes chief executive, said: “It has long been an ambition of mine to reestablish a Gray Dawes presence in the north west and the opportunity to acquire the Inc. Travel’s corporate and marine business was just too good to miss.

 

“Bill and the whole team at Inc. Travel have done a superb job at establishing a reputation for excellence and building their business over a relatively short period of time.

 

“As with all the acquisitions we have chosen to make, there are huge synergies between our corporate cultures and passion for service.

 

"I’m truly excited to be working with the team at our new Manchester office.

 

Tannahill added: “I am in no doubt that this acquisition is in the very best interests of Inc. Travel’s staff and corporate and marine clients alike.

 

"Inc. Travel has been on an exciting journey these past few years, and bringing in the infectious drive and ambition of Suzanne and the whole team at Gray Dawes will further enhance the range of services available to our loyal clients”.

 

Gray Dawes has also concluded a deal to purchase Vip Leisure Travel.

 

Horner said: “The Vip Leisure business complements well with Gray Dawes’ own corporate events and leisure offering and Peter [Squires, managing director of Vip Leisure Travel] and his team are bringing some unique knowledge and skills to our existing business”.

 

Squires added: “My colleagues and I are delighted to have joined Gray Dawes and I’m looking forward to sharing expertise and best practice to really drive forward the incentive travel and luxury holiday offering in 2019 and well beyond.”

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