the low­down

TMC con­sol­i­da­tion con­tin­ues apace

The Business Travel Magazine - - The Review -

THE TREND for in­dus­try merg­ers con­tin­ues with the takeover of Hill­gate Travel by Reed & Mackay, which said it wel­comed its for­mer ri­val 'into the fam­ily', to cre­ate a busi­ness with a com­bined global turnover of more than £600mil­lion. The fi­nan­cial terms of the deal have not been dis­closed.

Both busi­nesses are strong in the fi­nan­cial ser­vices, in­sur­ance and pro­fes­sional ser­vices sec­tors, and have in­vested heav­ily in their own tech­nol­ogy to ser­vice clients.

It is un­clear if the takeover will re­sult in re­dun­dan­cies or of­fice clo­sures or if the Hill­gate name will re­main. Fred Strat­ford, Group CEO, Reed & Mackay, says: “There is a pas­sion for ser­vice at the heart of both busi­nesses that makes this a very nat­u­ral fit.”

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