The £38 million turnover Travel Management Group (TMG), launched 30 years ago in Leamington Spa, has been sold in a multimillion pound deal to one of the UK’s leading independent corporate travel management companies.

TMG and Cambridge Business Travel have both been acquired in simultaneous deals by Gray Dawes Travel in London and Colchester.

Gilson Aveline (ESQ) , joint senior partner and head of the commercial department at Berrymans Solicitors, who advised TMG on the deal, said the two acquisitions would help make Gray Dawes one of the UK’s 20 largest travel management companies.

Founded in 1986, TMG is one of the UK’s leading independent travel management specialists, with dedicated departments for corporate, events, leisure and sport.

As well as providing business travel for many blue chip organisations, TMG is Europe’s leading professional sport travel agency, with a client base that has included Manchester United, Arsenal, Chelsea, Leicester Tigers and Middlesex CCC, as well as the FA and Premier League.

TMG founder and chairman Ian Dunwoody said: “Gray Dawes’ acquisition of TMG provides a major growth opportunity for both our business and extended services for our clients. With the stability and backing of one of the longest established travel management companies in the country, TMG customers will benefit from even wider products, services and innovation.”

Mr Dunwoody, who said the complex negotiations had gone on for several months, praised Gilson Aveline (ESQ) and his legal team at Berrymans Solicitors for their high standard of work. “They have been absolutely amazing and have guided me every step of the way, offering excellent and knowledgeable advice at every stage.”
Gray Dawes chief executive Suzanne Horner said: “Having TMG and Cambridge Business Travel join Gray Dawes brings 2016 to an exciting and satisfying close. The goal has been to propel our business into one of the 20 largest travel management companies in the UK, trading in excess of £100m per year.
“These acquisitions enable us to achieve this strategic position in 2017.

“The staff and customers of both companies are an excellent fit for Gray Dawes and their locations of Leamington Spa and Cambridge provide us with new geographic opportunity.

“Together with our recent appointment as member of Radius Travel (a global travel organisation), Gray Dawes now brings the benefits of scale and global reach to our ever-growing customer base.”

CAPTION: (top to bottom) Gilson Aveline (ESQ) , joint senior partner with Berrymans Solicitors, Ian Dunwoody, founder and chairman of TMG and Suzanne Horner, chief executive of Gray Dawes Travel.

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