We’re finding it easier to keep up with the Kardashians today than the travel industry as not one but TWO businesses were sold and acquired in the last few hours.
Moments after TMS confirmed the acquisition of an New Zealand recruiter, Corporate Travel Management Limited (CTM) announced the purchase of SCT Travel Group, the licensee of Platinum Travel Corp in NSW and QLD.
From 1 July 2018, CTM will use its short term cash flow to add SCT Travel Group’s business in Queensland and NSW to its portfolio.
As part of the acquisition, CTM will takeover the brand’s business in the two states only and adopt SCT’s Founder, Greg McCarthy, who will be appointed Chief Executive of Australia and New Zealand.
In a press release, the corporate travel business explained the rationale behind the purchase, saying the boutique agency has “an excellent reputation for customer service and a culture very similar to CTM”.
CONGRATULATIONS SCT and CTM.
Meanwhile over in New Zealand, TMS purchased Auckland-based TopDog Personnel and plans to rebrand the company into TMS Talent NZ. Global Managing Director, John Terry, said the purchase was well-timed with New Zealand’s strengthening job market.
READ: How Platinum keeps going from strenght-to-strength
READ: TMS buys ANOTHER travel business
READ: The ‘it’ class for corporate flyers