CMAC Group expands global footprint

Accrington based managed ground transport specialist CMAC Group has acquired a Spanish headquartered airport transport company as it continues its worldwide growth journey.

The business has bought Barcelona based Suntransfers for an undisclosed sum in a move designed to bolster its supply chain and provide immediate coverage to its existing clients across 23,000 destinations.

Suntransfers was founded in 2008 and is one of Europe's largest airport transfer companies, offering travel solutions across more than 750 airports and travel gateways worldwide.

Employing more than 30 industry specialists, the firm manages around 400,000 bookings annually and is on track to exceed its pre-pandemic revenues by the end of this financial year.

CMAC says the “strategic move” provides both organisations with a diversification of services as well as added resilience, delivering a combined turnover of £120m-plus and a total headcount of more than 270 staff, based across eight offices.

The acquisition also supports CMAC Groups’ plans to pursue further expansion across Europe and beyond over the next two years.

Peter Slater, CMAC chief executive, pictured, said: “The acquisition will facilitate powerful new developments for both businesses, and, together, we will continue building a stronger presence internationally whilst providing a wider range of market leading services focused on client service excellence.”

Nathan Timmins, managing director of Suntransfers, said: “We’re immensely proud of our history and achievements. Joining forces with CMAC Group means that we can accelerate our growth whilst offering more specialised services.

“We have much in common with CMAC, particularly our passion for our customers and continued innovation. We are very excited about our new future together.”

The acquisition follows a period of continued growth for CMAC Group, with the business reporting a 45 per cent increase in revenue and a seven per cent rise in its headcount in 2021 - a year which saw the firm transport more than two million travellers for the first time.

The deal was advised by Seneca Corporate Finance (corporate finance) and ILV Silver (legal, tax and due diligence). Funding for the transaction was provided by Barclays.