Wed, 02 Nov 2016 | MERGER
A Manchester-based travel management company is to merge with its Surrey-headquartered rival to create one of the largest travel management companies (TMC) in the UK.
Clarity Travel Management, owned by Mawasem Travel & Tourism, the UK arm of the Saudi Al-Tayyar Group, has acquired Portman Travel for an undisclosed fee.
The deal creates the seventh-largest TMC in the UK. Both firms supply technology and advice to help firms manage their corporate travel efficiently.
Clarity, which was founded in 2015, has grown rapidly since its formation, employing 300 staff at its Manchester headquarters and across the UK and handling more than one million business travel trips for its clients each year.
The company’s chief executive, Pat McDonagh, said: “This is fantastic news for our customers; it brings together the heritage of two great business travel companies along with the strengths and depth of people and systems.
“Portman Travel and Clarity are similar sized organisations, each with a proven track record – yet together we have an opportunity to create something that is truly market leading.
“The merger brings together the best talent and experience from both businesses to create a new travel management company with increased buying power, international reach and expertise through a significant shareholding in Radius Travel, a broader base, market leading technology and best in class service.”
Take a look at our buying a business page for more information on buying and selling businesses.
Operates across a diverse range of sectors, with no reliance on any key client accounts. Skilled workforce with extensive expertise within the sector. Operates from leasehold premises in North East England. Offers invited
LEASEHOLD
The business for sale is a family owned, electrical appliance retailer and wholesaler based in Stalybridge, Greater Manchester. This business sells a wide range of freestanding and integrated kitchen and home appliances from washers, dryers, sinks, k...
LEASEHOLD
Now available to the market is this brilliant furniture manufacturing company in the south of England. Trading since 1996, this family run business has been supplying high quality wardrobes complete with sliding or hinged doors, with the ability to m...
LEASEHOLD
|
06
|
|
Dec
|
KPMG agrees to sell pensions arm | DIVISION SALE
Professional services network KPMG has announced that it has...
|
05
|
|
Dec
|
What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS
Private business mergers and acquisitions expert Sue Green o...
|
05
|
|
Dec
|
MBO at Bolton-based delivery comparison firm | MBO/MBI
Bolton-based parcel delivery price comparison company Parcel...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources