McEwan and EFR swoop for corporate agent rival CTS. By Phil Davies at Travel Weekly
Independent travel management company Cassis Travel Services has been bought by a rival company headed by former Abta chairman John McEwan.
The north London-based firm is a member of the Advantage Travel Partnership which McEwan ran as chief executive of the travel agency consortium until last year, as is its new parent EFR Travel.
McEwan is non-executive chairman of EFR.
CTS has bases in Finchley Road, London and Camberley in Surrey as well as a relationship with a separate company of the same name based in New York and Los Angeles.
Founded in 1978, it is expected to turn over £10 million this year. No price was revealed as part of the buyout announcement.
McEwan said: “We are delighted to have purchased CTS Limited. It is an established business, with an excellent client base and very experienced and loyal staff.
“We believe that bringing CTS Limited into the EFR Group will provide great synergies and a broader platform from which to grow the business further.”
Edward Rom, founder and managing director of EFR Travel, added: “This is the first step towards the substantial growth of the EFR Travel Group and there will be mutual benefit to all businesses in the Group, as a result of this purchase.
“I am also excited at CTS Limited building on their relationship with Cassis Travel Services Inc (a separate company) which has offices in New York and Los Angeles.”