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TD breaking news – Another US acquisition for Corporate Travel Management

CTM to purchase Los Angeles-based Montrose Travel. 

Corporate Travel Management is expanding in North America once again, having just announced the US$34.32 million acquisition of Los Angeles TMC Montrose Travel,

The move expands CTM’s US coverage to California, with the company having an operational presence from 19 cities across the country. Montrose also has a strong reputation as one of North America’s best loyalty rewards travel providers, and Corporate Travel Management plans to leverage the company’s expertise in this area across its global operations.

“Montrose Travel is an iconic business in California, operating for more than 60 years,” said CTM md Jamie Pherous. “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 will take ownership in CTM stock,” he added.

Pherous also upgraded the company’s profit guidance, saying that as a result of the deal CTM now expects underlying EBITDA to be at or around $68 million for FY16.

More details in Monday’s issue of Travel Daily.


The above Breaking News Alert was sent to Travel Daily subscribers on 18 Dec 15

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