CWT Purchases Two More International TMCs
Carlson Wagonlit Travel this week announced the acquisition of travel management companies in Ireland and Canada.
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In Ireland, the mega travel management company purchased Executive Travel Group, its partner since 1994, for an undisclosed amount. CWT claims the 51-employee, 88 percent corporate agency handles €37.5 million annually. The company did not have a stake in Executive Travel before the acquisition.
Dublin-based Executive Travel Group also operates business travel centers in Cork and Limerick, which will remain as CWT's local fulfillment centers, said Andrew Waller, CWT executive vice president of the United Kingdom and Ireland.
Managing director Arthur Harrow will continue to lead CWT Ireland and coordinate local corporate sales efforts.
CWT also completed the acquisition of Ottawa-based CWT Madison Travel, a member of the CWT Associates franchise program, for an undisclosed amount. The 17-employee, 70 percent corporate agency will transition into the CWT Canada division under senior vice president and general manager Nick Vournakis.
CWT in the past year has completed several targeted acquisitions, including buys in Italy, Spain, and Sweden, to close ownership gaps in its global network.