YORKSHIRE-based Redfern Travel has been acquired by Australian travel provider Corporate Travel Management (CTM) for an undisclosed sum, in a deal structured by accountancy and business advisory firm BDO LLP.
Redfern Travel. which is one of the UK’s biggest travel management companies, was founded in 1937. Today, the Bradford-based company specialises in online travel services to government and corporates across the UK.
Corporate Travel Management, which is listed on the Australian stock exchange, is an award-winning provider of cost-effective travel management services to the corporate market. It employs more than 2,200 staff globally and services clients across 53 countries. The corporate finance team at BDO in Leeds advised Redfern Travel.
The BDO team was led by mergers and acquisitions partner Jason Whitworth, assistant director James Gregson and manager James Mannion. Mr Whitworth, a partner at BDO, said: “The travel industry continues to be buoyant in terms of merger and acquisition activity. This deal represents a good strategic move for the shareholders and presents a huge opportunity for the business to grow”
Mark Bowers, Redfern Travel’s chief executive, said: “The partnership was a natural fit, with CTM’s focus on innovation aligning perfectly with Redfern’s strategic vision.”