Carlson Wagonlit Travel (CWT) has signed a definitive agreement to acquire Gateway Travel Management (GTM), a privately held regional travel management company based in the Pittsburgh area.
Gateway Travel Management was established in 1984 and has offices in Sewickley, PA and Pittsburgh. With business totaling $160 million in annual air volume, GTM's client base has been primarily located in the Mid-Atlantic and Midwestern states. GTM services include corporate travel management, groups and meetings and leisure travel services. The company has 80 employees
"As companies of any size seek to grow and expand across borders, increased investment is needed to provide the level of technology and service clients and their travelers have come to expect," Jim Pekins, president and CEO of GTM, said. "The GTM management team feels CWT is best suited to deliver those capabilities over the long term," he continued, citing CWT's global footprint, award-winning service and technology, and "of particular importance to us, CWT's proven track record with clients of all sizes."
Jim Harris, vice president and CFO added, "We were attracted to CWT specifically because of the long-held respect we've had for the organization as a competitor. I'm pleased we now have the opportunity to join forces for the mutual benefit of our collective employees and clients."
With the purchase of Gateway Travel Management, CWT expands its presence in the Pittsburgh area and furthers its established growth strategy, which includes increased growth in the small and medium enterprise market and targeted acquisitions, along with the sale of value-added products and services to new and existing clients.
GTM's expertise at serving small and medium enterprise market clients in the Pittsburgh area will benefit CWT even further in this key market, noted Sam DeFranco, senior vice president of national accounts for CWT North America.