London-based Statesman Travel Group has been taken over by US travel management company Travel and Transport for an undisclosed sum.
The combined companies will have 1,600 employees with total annual global sales of more than $3.5 billion.
Specific financial terms of the all-cash transaction were not disclosed. Statesman was founded in 1975, has 150 staff and £150 million in annual sales.
Aligning closely with Travel and Transport’s 2012 acquisition of New York-based Ultramar Travel, the combined organisations have long standing relationships supporting mutual clients, which will now be enhanced by the US firm’s global technology platform.
City of London-based Statesman Travel Group has tripled in size in the last three years.
Travel and Transport described the deal as a “strategic global acquisition” of a highly successful and respected UK based travel management company that focuses on professional services firms and other industries desiring a high touch service element.
CEO Kevin O’Malley said: “This acquisition continues our global growth strategy that has been driven by our clients’ needs and expectations.
“We look forward to welcoming all of the Statesman employees and customers to the Travel and Transport family and we are excited that Mervyn Williamson will continue to lead our UK organization.”
Williamson, Statesman managing director, added: “We are thrilled to be joining Travel and Transport, which shares our global vision related to traveller-centric services and the modern day business traveller.
“The focus on personalisation and innovation that both companies embrace will complement and enhance the superior services already offered by Statesman.
“I am confident that our clients as well as our employees will find mutual benefits with this venture.”