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 financial advisory firm has an infrastructure in place to carry on operating profitably post-sale.
Hertfordshire based IFA with 75% of the business' assets with two major platforms, ensuring a smooth transition post-sale.
This firm has an average portfolio size per household above £0.5m, meaning you will be servicing high quality, profitable clients.
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