Wings Travel Management has taken over rival travel management company Grosvenor Travel Management for an undisclosed sum.
The two companies will continue to trade independently for the rest of the year but are due to consolidate under the Wings Travel Management brand in early 2017.
Grosvenor Travel Management specialises in the oil and gas, security, finance, legal and advertising sectors.
The company’s 60 staff manage more than £60 million in business travel sales a year from two offices in central and south London.
Wings Travel Management chief executive, Tony Sofianos, said: “This investment demonstrates our commitment to growth in the UK market and lays the final foundation for our plan to transition our global headquarters to London in 2016.
“We spent the last three years looking for the right TMC partner in the UK and during our conversations with Grosvenor Travel Management it became very evident early in the process that we shared many common goals and aspirations.
“There is no doubt that each business has its own strengths, but together, our value proposition is magnified and we are therefore, better positioned to serve the niche markets that we specialise in, with a global footprint to support expansion.”
Sofianos added: “This UK expansion, into niche corporate markets such as security and financial services is not exclusive to our overall growth strategy. We will continue to aggressively expand in the oil and gas sector and are actively considering additional locations in the Asia Pacific region, the Middle East and in key locations such as Aberdeen, Scotland in the next six to 18 months.”
Grosvenor Travel Management managing director, Dominic Joyce, said: “To move to the next level of growth, we needed to provide a multi-national solution to our clients.
“Our combined business allows us to improve our offering to clients and secures the future for our loyal, long-serving staff.”
Wings UK, Europe and Americas chief operating officer, Paul East, added: “The combined Wings/Grosvenor business, means that we are now generating a UK annual turnover close to £100 million, which places us in a strong position to build our client base rapidly in the niche areas that we operate.
“This move will also assist us to optimise our relationships with our suppliers both in the UK and globally which in turn, will support our clients, in maximising their travel programmes.”