Australia-based Corporate Travel Management (CTM), No. 12 on the 2016 Travel Weekly Power List, this week announced two acquisitions: Redfern Travel in the U.K. and Andrew Jones Travel in Tasmania.
With its $66.7 million acquisition of Redfern Travel, CTM said it will be one of the seven largest TMCs in the U.K. Its $5.6 million acquisition of Andrew Jones Travel will make it the second largest TMC in Australia.
"These acquisitions will deliver increased benefits for our global network of travel management providers, allowing us to leverage growth and scale in the U.K. and Australian markets, and offer a return on investment for our clients," CTM managing director Jamie Pherous said in a statement.
CTM is no stranger to growth, including in the U.S. Most recently, the company purchased Montrose Travel and Travizon Travel earlier this year. CTM first entered the U.S. market in July 2012 with its acquisition of R&A Travel, and made a handful of purchases before the ones in 2016.