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06 November 2018

Charles Russell Speechlys advises on Key Travel bolt-on

Charles Russell Speechlys has advised leading travel management company Key Travel (backed by Elysian Capital) on the acquisition of international humanitarian/faith focused travel management company Raptim. Headquartered in Tilburg, Holland, Raptim has operations in the US, Canada, Netherlands, Switzerland, France, Italy and Kenya together with a franchisee in Denmark and an operating "partner" in Australia. The combination of their business operations will form the world’s largest travel management company exclusively focused on the humanitarian, faith-based and academic sectors. The combined business will have sales approaching £350m and over 500 employees in ten countries.

Saad Hammad, CEO of Key Travel, who is leading the combined businesses, highlighted the economic synergies between the two businesses: “A combination with Raptim is an exciting opportunity for Key Travel. The strategic rationale is strong: undisputed leadership in humanitarian, faith-based and academic travel globally, a doubling in scale in the US and a significant complementary platform in Mainland Europe. Above all, both organisations are people focused and values driven, with emphasis on compassion and service. A combination enables us to serve our customers better, collaborate more effectively with our suppliers and offer more development opportunities for our people.”

Chris Manning, Corporate Senior Associate, commented: “Following on from Elysian’s acquisition of Key Travel in May 2018, we were delighted to assist with Key Travel’s first bolt-on acquisition and to build upon our existing relationships with the Elysian and Key Travel teams. We wish the Key Travel team every success as the organisation continues to grow and thrive in the sector.”

The Charles Russell Speechlys team, led by Corporate senior associate Chris Manning and partner Malcolm MacDougall, comprised Corporate associates Nicola Baird, Dafni Loizou and Rajiv Kakkad, as well as Banking partner Daniel Sullivan and associates Cara Fulker and Roya Zohrabi.