London (TAN): Travel management company Gray Dawes Group has announced the purchase of Amber Road Travel from PE firm Endless LLP, the latest piece in its strategic acquisition plan.
The acquisition of Amber Road Travel and their Manchester and Leeds offices reinforces Gray Dawes Group’s presence in the North of the country, which was reestablished following the deal to buy INC. Travel Group nine months ago.
The deal sees family-owned Gray Dawes Group’s turnover driven past GBP 200 million (USD 248.35 million) and employee numbers closing in on 300.
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“Contrary to expectations we weren’t necessarily looking to make any acquisitions in 2019 but the opportunity to acquire a highly respected business such as Amber Road Travel was a prospect too tempting not to explore,” the group’s CEO Suzanne Horner said. “We have built clear criteria when assessing acquisition opportunities and our joint business synergies quickly became clear. The quality of their workforce, diversity of client base and presence in Manchester and Leeds means I am hugely excited about welcoming them to the Gray Dawes Group.”
John McEwan, outgoing Chairman of Amber Road Travel, said, “I am delighted to see the deal completed. I am in no doubt that joining the Gray Dawes Group is perfect for the future success of both the Amber Road team and clients alike. The dynamism and passion shown by Suzanne and her team throughout the acquisition process were infectious, and I look forward to following the ongoing success of the newly combined businesses.”
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Amber Road Travel is the ninth acquisition announced by Gray Dawes Group since 2015 following the purchase of The Business Travel Partnership, Travel Focus, Travel Management Group plc, Cambridge Business Travel, ctm Travel Management, Giles Travel, INC Travel Group and VIP Leisure.
Advising on the deal on behalf of Gray Dawes Group were Jonathan Wall of Elman Wall and Paul Forsyth of Ellisons Solicitors with James Croxon of Park Place Corporate Finance and Alasdair Outhwaite of DWF advising Amber Road Travel and Endless LLP.
