Amber Road becomes Gray Dawes' latest acquisition
By Sasha Wood, published 20/9/19
Gray Dawes has purchased fellow travel management company Amber Road to reinforce its presence in the north of England.
It is the company’s ninth acquisition in four years, which includes a deal to buy northern-based TMC INC. Travel Group nine months ago.
Following its latest acquisition, family-owned Gray Dawes Group’s turnover will top £200 million and it will have around 300 employees.
Commenting on the recent raft of TMC acquisitions at The Business Travel Conference, Gray Dawes’ Commercial Director Dave Bishop said, “It’s cheaper to buy a successful TMC than to get that business up and trading – that’s why we do it.”
He said there will be more acquisitions to come and as the market shrinks, he “wouldn’t be surprised to see one of the big players move aside and be swallowed by someone else.”
Gray Dawes’ CEO Suzanne Horner says: “Contrary to expectations we weren’t necessarily looking to make any acquisitions in 2019 but the opportunity to acquire a highly respected business such as Amber Road Travel was a prospect too tempting not to explore.”
Amber Road’s outgoing Chair, John McEwan, welcomed the deal, saying: “I am in no doubt that joining the Gray Dawes Group is perfect for the future success of both the Amber Road team and clients alike.
“The dynamism and passion shown by Suzanne and her team throughout the acquisition process were infectious.”
Amber Road is the ninth acquisition announced by Gray Dawes Group since 2015 following the purchase of The Business Travel Partnership, Travel Focus, Travel Management Group plc, Cambridge Business Travel, ctm Travel Management, Giles Travel, INC Travel Group and VIP Leisure.