TRAVEL Management Group (TMG), launched 30 years ago in Leamington, has been sold in a multi-million pound deal to one of the UK’s leading independent corporate travel management companies.
TMG and Cambridge Business Travel have both been bought in simultaneous deals by Gray Dawes Travel, making it one of the UK’s 20 largest travel management companies according to David Lester, joint senior partner at Blythe Liggins Solicitors, who advised TMG on the deal.
TMG, founded in 1986 and with an annual turnover of £38million, has dedicated departments for corporate, events, leisure and sport.
As well as providing business travel for many blue chip organisations, TMG also speciliases in sport travel agency, with a client base that has included Manchester United, Arsenal, Chelsea, Leicester Tigers and Middlesex CCC, as well as the FA and Premier League.
TMG founder and chairman Ian Dunwoody said: “Gray Dawes’ acquisition of TMG provides a major growth opportunity for both our business and extended services for our clients. With the stability and backing of one of the longest established travel management companies in the country, TMG customers will benefit from even wider products, services and innovation.”
Mr Dunwoody, who said the complex negotiations had gone on for several months, also praised Mr Lester and his legal team at Blythe Liggins for their high standard of work.
Gray Dawes chief executive Suzanne Horner said: “Having TMG and Cambridge Business Travel join Gray Dawes brings 2016 to an exciting and satisfying close.
“The goal has been to propel our business into one of the 20 largest travel management companies in the UK, trading in excess of £100milliion per year. These acquisitions enable us to achieve this strategic position in 2017.