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September 2022, Virtual
September 29 2022, Virtual
Corporate Travel Management (CTM) has acquired Chambers Travel in a deal worth up to £39 million over three years.
The deal, effective from January 1 2015, means TMC Chambers will become the European arm of CTM. It also includes elected share ownership of CTM for Chambers CEO Chris Thelen and the senior management team – all will retain their current positions.
“We are delighted to have Chambers Travel become our anchor point in the UK and Europe to lead future growth in this region,” said CTM managing director, Jamie Pherous.
“This partnership culminates a decade of successfully working together allowing a seamless transition for our respective management teams,” he added.
Chambers CEO Thelen said it has worked with CTM on a number of global bids over the past 10 years and believes they both share the same philosophy regarding culture, people and service.
“There is a huge opportunity to benefit from each other’s strengths, significantly enhancing our service offering to clients, while providing exciting new career opportunities for our employees,” Thelen said.
CTM will now operate in 46 cities across 23 countries worldwide, employing 1,800 staff. All of Chambers’ 214 employees will retain their positions and it will continue to trade under the same name “for the foreseeable future”.