TTC advise Clarity Travel Management on their acquisition of Portman
2 November 2016
Clarity Travel Management and Portman, two of the UK’s leading travel management companies (TMCs) have merged to create one business following the acquisition of Portman Travel by the owners of Clarity Travel Management, Mawasem Travel & Tourism. The combined business will be the seventh biggest TMC in the country.
Pat McDonagh, Chief Executive of Clarity: “Portman Travel and Clarity are similar sized organisations, with combined gross annual sales of over £400m and proven track records – together we have an opportunity to create something that is truly market leading.
The merger brings together the best talent and experience from both businesses to create a new travel management company with increased buying power, international reach and expertise through a significant shareholding in Radius Travel, a broader base, market leading technology and best in class service.”
Mark Nevin, Chief Financial Officer of Mawasem Travel & Tourism: “The Travel Trade Consultancy provided us with clear, pragmatic advice to ensure all of the regulatory implications were well thought through, and all necessary clearances were achieved on time.”
Martin Alcock Director of the Travel Trade Consultancy: “It was a pleasure to work closely with Mark and his team to help execute the transaction.
This deal is further evidence of the trend towards consolidation in the business travel sector as TMCs look to achieve scale and synergy benefits in a very competitive market place.