Management / Secondary Buyout
Amber Road is a is a top 25 business travel management company, established in 1983 as TD Travel and rebranded to CTI following the purchase of Bristol-based Hotelscene in 2013. Endless initially acquired CTI in July 2017 and it was subsequently rebranded as Amber Road. Headquartered in Manchester, Amber Road has around 125 staff and a satellite office in Leeds.
Our investment thesis was to stream-line the business operations and create a platform for bolt-on activity or an attractive target for others, as the sector was in need of consolidation. Significant progress was made during our ownership in delivering the turnaround, including cost reduction, simplifying IT systems and re-branding.
As the sector continued to consolidate, Gray Dawes Travel Limited was selected as a purchaser which offered the best cultural fit for the employees and had a track record of completing a number of similar transactions in the past few years.
James Woolley, Partner at Endless LLP, said “We hope that joining forces with Gray Dawes is an exciting outcome for the loyal workforce at Amber Road. We would like to thank all the Amber Road team for their hard work and dedication in delivering excellent service and customer care to their blue chip client base and we wish them and Gray Dawes the very best of success in the future.”