Corporate Travel Management acquires California agency Montrose Travel
Sunday, 21 Dec, 2015
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Corporate Travel Management has been on the acquisition trail again, snapping up California-based Montrose Travel.
The purchase of Montrose makes Australia based CTM one of the biggest dozen travel companies in the US, now with a presence in 19 cities.
CTM first entered the North American market three years ago and has steadily grown with several acquisitions including Travelcorp, USTravel, Avia International Travel and Diplomat Travel.
"We have consistently said to the market and our industry that we would pursue acquisitions where they make our business stronger, and deliver compelling customer benefits," said CTM founder and managing director, Jamie Pherous.
"When we entered this market in 2012, we made it clear that acquisition opportunities would be assessed to determine whether they showed cultural compatibility, integration simplicity and quality management. Montrose Travel epitomizes that approach; it is an iconic business in California, operating for more than 60 years."
Montrose employs a team of more than 200 who will remain with the company.
Pherous said Montrose and CTM had been working together for the past year on various programs
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