Direct Travel has acquired Cleveland-based Professional Travel in a deal expected to bolster the Denver company’s position in the North American market.
Founded in 1963, Professional Travel employs more than 175 employees with total combined sales of $448 million and represents Direct Travel’s largest acquisition in the U.S. to date.
“We’re proud to bring a prominent TMC like Professional into the Direct Travel organization,” said Ed Adams, Direct Travel CEO, in a statement. “Professional shares our deep commitment to customers and employees alike and we’re positive that this will be a strong asset to the mutual benefit of both companies.”
Professional Travel Chairman and CEO Bob Sturm added: “We’re enthusiastic to begin this new chapter with Direct Travel as it will allow us to provide more depth and a wider array of services to our clients. Direct Travel’s focus on the mid-market customer along with their service excellence means they are committed to the same guiding principles that have shaped our agency from the beginning.”
The deal means Professional Travel can continue to provide its customers with an expanded portfolio of high-quality and reliable services and technology offerings while continuing its personalized approach to managed travel, said the company’s president, Rob Turk.
Professional Travel’s executive leadership team will remain in place to ensure business continuity.