The deal is Gray Dawes’ fifth acquisition in three years.
Suzanne Horner, CEO of Gray Dawes Group, said: "We continue to execute on our multi-year acquisition plan and I am delighted to welcome CTM employees and clients to the Gray Dawes Group.
"Since the outset, we have been focussed on identifying businesses that share our ethos and culture of innovation coupled with unflinchingly high levels of customer service; CTM comfortably ticks all those boxes."
All CTM staff will be retained with operations moving to the Gray Dawes’ central London office.
Phil Cook, CEO of CTM’s parent company P&P Group commented "[Gray Dawes Group’s] expertise in business integration is second to none and being part of a much larger travel organisation will deliver a range of new opportunities to CTM staff and clients alike."
The deal was confirmed on 1 December.
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