Corporate Travel Management Limited Capital raise and expansion
Corporate Travel Management (CTM) is an award-winning provider of innovative and cost-effective travel management solutions to the corporate market. Its client-facing technology solutions drive savings, efficiencies and improve traveller safety. Headquartered in Australia, the company services clients in 53 countries across the world and has a current market capitalisation of $2.5 billion.
Since acting on its IPO in 2010, McCullough Robertson has advised CTM on its fully underwritten, renounceable rights issue to raise $71 million to fund two acquisitions.
This allowed CTM to expand its European footprint with the acquisition of UK’s Redfern for $69 million and Tasmania’s leading corporate and government travel group, Andrew Jones Travel.
Prior to this transaction, McCullough Robertson advised CTM on the $33 million acquisition of Travizon Travel in April 2016. Travizon is a highly regarded US corporate travel company that has been operating for more than 40 years.
To find out more, contact Reece Walker.