Posted on: December 6, 2011
Directravel acquires Minnesota agency
Directravel CEO Ed Adams and Silver Oak Services Partners agreed to acquire Corporate Travel Services, a Minneapolis-based travel management company focused on midsize clients.
Silver Oak Services Partners in September acquired Mahwah, N.J.-based Directravel, and Adams assumed CEO duties.
At that time, Adams said that he was pursuing a roll-up of several midmarket corporate travel agencies to create a $1.5 billion company.
Adams is the former CEO of Navigant International, a company that grew to become one of the largest U.S. travel agencies via acquisitions. Navigant was acquired by Carlson Wagonlit Travel in 2006.
"CTS is a perfect fit, as I look to grow this business," said Adams in a statement. "Their size, technology, client base and customer philosophy are strategically aligned with the type of agencies we are looking for."
Lisa Buckner will continue to serve as CTS president and COO.
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