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.
This well-established scrap vehicle yard in Essex offers a unique opportunity to acquire a business with a significant stock of decommissioned parts and panels, alongside essential equipment such as forklifts and heavy demolition plant.
Opportunity to acquire a well-established engineering product and equipment distributor located in the heart of the West Midlands.
Presenting an exceptional opportunity to acquire a well-established specialist joinery business located in Southport, Merseyside.
01
|
Jul
|
PE-backed accountancy swoops for 65-strong East Midlands firm | BUSINESS SALE
Private equity-backed accountancy Duncan & Toplis has acquir...
01
|
Jul
|
Manchester-based aerospace firm rescued with pre-pack deal | BUSINESS SALE
B&H.PT Limited, a Manchester-based aerospace manufacturer, h...
01
|
Jul
|
Seafood and pork supplier acquires food manufacturing business | BUSINESS SALE
Sofina Foods Europe, a North Yorkshire-headquartered supplie...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.