Travel and event management company Reed & Mackay has expanded to include the top five European markets for business travel spend.
The company unveiled the takeover of Italian TMC Regent International.
The deal for an undisclosed sum follows strong organic growth in Germany and France, as well as the rebrand of its businesses in Spain and Sweden to Reed & Mackay over the last 12 months.
This has seen the company grow in mainland Europe by 28% year-on-year.
Italy is ranked as the seventh-largest business travel market globally and fourth-largest in Europe, with an estimated annual business travel spend of $34 billion.
Regent International has offices in Rome and Milan providing travel services to more than 200 clients across core sectors for Reed & Mackay including professional services, premium brands, healthcare, technology and media.
Reed & Mackay global chief executive Fred Stratford said: “Italy is an important market for Reed & Mackay’s clients.
“Not only does Regent International bring deep-rooted knowledge of the Italian corporate travel and events market, its values also closely align with Reed & Mackay’s uncompromising focus on high-touch service.”
Regent International founder and managing director Giovanni Tiradritto added: “I am incredibly proud of Regent’s reputation as a service leader in Italy, and we look forward to delivering this tailored service to Reed & Mackay’s international clients with travel and event needs in the Italian market.
“This is an exciting next chapter for Regent International with expanded buying power, international coverage and enhanced technology set to bring enhanced benefit to our clients here in Italy.”