Corporate Travel to buy Travizon Traveln
Corporate Travel Management will buy east coast corporate travel company Travizon Traveln, a company that has been operating for more than 40 years.
The acquisition is EPS accretive and will further bolster the company’s presence on the east coast of the USA. CTM will now operate out of over 20 cities within the USA.
The addition of Travizon is projected to take CTM’s North America total transaction value to above $US1b (A$1.3b) in FY17, ranking CTM in the top 10 travel management companies in the USA market in just over 4 years.
CTM managing director Jamie Pherous said the transaction, which followed the purchase of California-based Montrose Travel in December, would allow CTM to build and leverage scale, and is projected to take North American Total Transactional Value (TTV) “well above USD1 billion (AUD1.3 billion)” in the next financial year.
“Travizon is a long standing and well regarded corporate travel company,” Pherous said.
“They meet our strict acquisition criteria, they possess a capable and passionate management team, are leaders in travel in their region, enjoy high client and staff retention, and part of the consideration will include taking ownership in CTM stock.
“This transaction is the result of years of working closely together on client programs on both sides of the Atlantic.”
Pherous said both CTM and Travizon have a track record of winning and servicing high-profile global and regional clients, and use the same reservation system, which would enable the business to quickly leverage networking opportunities.
“We have fully integrated our US operations leading in to the next financial year. Already we have seen that our scale in North America allows us to leverage our sales, support services, and buying power to maximise the benefits to our clients and our business.
Email the Travel Weekly team at traveldesk@travelweekly.com.au
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