The UK’s Good Travel Management (GTM) and CT Travel Group are merging,
it was announced today, after the former’s parent company, John Good Group, became
a majority investor in the latter.
Terms of the deal were not disclosed but the acquisition
will give the combined business a turnover of £85 million, putting it among
the UK’s 20 largest travel management companies.
The deal is designed to “accelerate each business'
aggressive growth plans in the business travel, incentive, groups and events, trade
missions and leisure travel markets.”
Mark Kempster, who founded the CT Travel Group (CTTG) in 1988, said,
“I am delighted that we are joining with Good Travel Management. We see a
great opportunity to grow our combined position in the market and share values
around our people.”
He paid tribute to co-owners Tom Kempster (technical
director), Clare Collins (chief operating officer) and David Bevan (financial
director), “all of whom have played a key role in the success of CTTG.”
Tom Kempster and Collins join Mark Kempster as shareholders
in the new business, with the latter two additionally joining GTM’s Kevin
Harrison and Ben Norman on the combined company’s board of directors.
It is the third such deal for Good Travel Management in
recent years having acquired Wexas Travel Management in 2023 and Company Travel
in 2021.
Both brands were subsequently retired but John Good
Group chief executive and GTM chairman Adam Walsh said there will be no such
change for the CT Travel Group in the “foreseeable future”.
“We’ve got multiple great brands between the two businesses.
We’ll now be assessing the best way forward to capitalise on these strengths to accelerate our growth in the future,” said Walsh.
He added: “I’m delighted to have completed this deal to
bring these two brilliant organisations together within the John Good Group. We
are so well aligned in terms of growth ambition and outlook. It’s in both
businesses’ DNA to deliver the best possible service to travellers. Our
business has been in the travel industry for more than a century, and this is
another historic moment in its development.”
The combined organisation has offices in London, Kent and
Yorkshire.
CT Business Travel – the corporate travel division of CTTG –
was ranked the 28th largest TMC in the UK in BTN Europe’s Leading
TMCs 2024 report with sales of £43 million, while GTM was placed 34th
with sales of £25.31 million.
The merger of GTM and CTTG comes a fortnight after Talma
Travel Solutions’ acquisition of Blue Cube Travel – its second UK TMC purchase
after buying the Norad Travel Group in 2022.