Established in the early 1990s by husband and wife Paul and Caroline Julius, Kent-based Medway Travel offers corporate and leisure travel management services to the UK.
Recently, the shareholders approached BCMS Corporate to identify a buyer after deciding to retire from the business.
New owners, the CTT Group, headed by Mark Kempster and also based in Kent, were founded in the late 1980s originally as Country Trails Travel.
All Medways' staff have been retained by the CTT Group. Paul Julius will help oversee the integration of the two organisations.Kempster said: "Our plans for the future both short and long term should see the group continue to invest in its organic growth and acquisition programme of like minded businesses within the industries we know and understand and its continued commitment to its staff and customers."
Andy Denny, deal leader, BCMS Corporate, added: "We’re extremely pleased to have concluded the sale of Medway Travel. There was considerable interest in the business but it was clear to all concerned that the CTT Group represented the best fit."
Medway reported an £8.5m turnover for year ending 31 December 2011.