Travel management firm Gray Dawes has announced the acquisition of Redhill-based CTM for an undisclosed sum.
The deal, confirmed on December 1, is Gray Dawes’ fifth acquisition in three years.
Suzanne Horner, chief executive of Gray Dawes Group, said: “We continue to execute on our multi-year acquisition plan and I am delighted to welcome CTM employees and clients to the Gray Dawes Group. Since the outset, we have been focussed on identifying businesses that share our ethos and culture of innovation coupled with unflinchingly high levels of customer service; CTM comfortably ticks all those boxes.”
Phil Cook, chief executive of CTM’s parent company P&P Group, added: “I am delighted to be handing over the reins of CTM to Suzanne and the team at Gray Dawes Group. Their expertise in business integration is second to none and being part of a much larger travel organisation will deliver a range of new opportunities to CTM staff and clients alike. P&P Group is now looking forward to investing in the continued growth of Vibe travel technology and our multiple leisure brands.”
All CTM staff will be retained with operations moving to the Gray Dawes’ central London office.