Corporate Travel Management is expanding its reach in the corporate and events market with the acquisition of the SCT Travel Group
SCT trades as Platinum Travel Corporation in Queensland and New South Wales.
The acquisition will complete in July and has an estimated value of $5 million.
"A key initiative of the CTM ANZ FY19 business plan will be expanding the SME corporate and events segment, and the SCT team are well placed to enhance the support and success of both initiatives," CTM said, adding that SCT is ‘a renowned Australian boutique agency that has an excellent reputation for customer service.’
SCT co-founder Greg McCarthy joins the Corporate Travel Management executive leadership team as new Sydney based CEO of Australia and New Zealand.
CTM holds about a 15 per cent share of the Australia and New Zealand market and remains on the lookout for other acquisitions that can add value to the business, it said.
