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Carlson Wagonlit Travel Acquires Traveltime Services in Nashville, Tennessee
Minneapolis, MN | March 11, 2008
Carlson Wagonlit Travel (CWT), the leading global travel management company, announced today a signed, definitive agreement whereby CWT has acquired Traveltime Services, a privately held regional travel management company based in Nashville, Tennessee.
Traveltime was established in 1976 and is well known for providing personalized, quality service to clients nationwide. The company handles business totaling US$20 million in annual air volume. The acquisition is in line with the ongoing growth strategy of CWT, which includes targeted acquisitions, as well as strong sales to new and existing clients.
"The acquisition of Traveltime is a great opportunity for CWT to expand its presence in the Nashville area," noted Jack O'Neill, president, CWT North America. O'Neill added that while CWT currently has an office in the area, "the two locations will join operations to more efficiently serve our newly combined client base."
Tamara Laurinas, president of Traveltime Services, said the timing was right for the company and its clients. "Given the highly competitive environment of today's travel industry, this is the right decision at the right time," she offered. Laurinas said she is confident current Traveltime clients will benefit from the sale, enjoying continued local service, as well as an expanded offering of products and services available through CWT.
The owners of Traveltime Services, Jack Shaw and Jim King, along with Laurinas and others from the Traveltime team, will take on roles within CWT, ensuring a smooth transition for their clients and an expanded team of CWT professionals serving the greater Nashville area.
With the acquisition, CWT welcomes 20 employees. "The Traveltime team will bring new ideas and energy to an already strong organization," stated Sam DeFranco, senior vice president, East Region, CWT. "We're anxious to learn from each other and bring that additional value to our collective client base."
About Carlson Wagonlit Travel
Carlson Wagonlit Travel (CWT) is a global leader specializing in travel management. Present in more than 150 countries, CWT serves companies of all sizes, as well as government institutions and non-governmental organizations. By leveraging both the expertise of its people and leading-edge technology, CWT helps clients derive the greatest value from their travel program in terms of savings, service and security, and provides best-in-class service and assistance to travelers. CWT services and solutions comprise four lines of business: Traveler & Transaction Services, Program Optimization, Safety & Security, and Meetings & Events. CWT has 22,000 employees worldwide. In 2007, sales volume for wholly owned operations and joint ventures totaled US$25.5 billion. For more information, please visit www.carlsonwagonlit.com.
About Traveltime Services, Inc.
Traveltime Services is a privately held corporation based in Nashville, Tennessee. Founded in 1976, the company primarily services corporate travelers. Operations include Traveltime headquarters as well as client onsite locations.