Helloworld Travel has announced it has agreed to acquire the TravelEdge Group, one of Australia’s largest privately-owned corporate travel management companies.
TravelEdge offers a full suite of corporate travel services including travel management solutions, academic travel services, event and group planning and delivery, holiday and leisure services, and travel prizing and incentives.
The consideration for the acquisition is $28 million, which Helloworld will fund from a new bank facility.
Andrew Burnes, CEO and managing director of Helloworld, said: “We are very pleased with the addition of TravelEdge to the Helloworld Travel Limited business.
“This will allow HLO to expand in the corporate and education travel sectors and the business complements our existing corporate operations in Australia and New Zealand with additional expertise knowledge and capability.
“With nearly 20 years’ experience, TravelEdge is a highly respected TMC business that generated over $300 million of TTV in FY19.
“We will continue to provide outstanding services to TravelEdge’s many clients across the corporate and education sectors in Australia.”
“HLO’s existing TMC businesses include QBT, Show Travel, Inspire, AOT Hotels and in New Zealand APX, and with the addition of TravelEdge to our wholly owned TMC operations, our trans-Tasman corporate TTV on an annualized basis will be approximately $1.55 billion in FY20.
“In addition, our Helloworld Business Travel network of corporate agencies in Australia and New Zealand has TTV of over $850 million, taking the total corporate business in our wholly owned operations and our business network members in Australia and New Zealand to over $2.4 billion in FY20.”
Nick Sutherland, group general manager of corporate at Helloworld, added: “TravelEdge is a leading specialist corporate travel business and adds great strength to our expanding TMC businesses in both Australia and New Zealand.
“QBT was recently awarded the corporate travel contracts for News Corp Australia and Foxtel, and is expanding in other areas and we look forward to continuing to provide outstanding service to our many corporate clients throughout Australia and New Zealand.”
Kim Wethmar, CEO of TravelEdge said she was very pleased that the company will now be a part of Helloworld, and sees significant benefits for customers and opportunities for employees.
Wethmar, who joined TravelEdge four years ago, will continue to run the business from its Sydney headquarters.