Long Lake Management Acquires American Express Global Business Travel for $6.3 Billion

Amex GBT to Acquire CWT for Approximately $570 Million

March 25, 2024

IT Services

American Express Global Business Travel (Amex GBT) agreed to acquire CWT, a global business travel and meetings solutions provider, in a deal valued at approximately $570 million on a cash-free, debt-free basis. The transaction is funded with a combination of stock and cash and is expected to close in the second half of 2024, subject to regulatory approvals and customary closing conditions.

American Express Global Business Travel (GBT) to Go Public via Business Combination with Apollo Strategic Growth Capital

December 3, 2021

IT Services

American Express Global Business Travel (GBT) entered into a definitive business combination agreement with special purpose acquisition company Apollo Strategic Growth Capital (APSG) to create a large publicly traded B2B travel platform. The transaction is expected to provide up to $1.2 billion of gross proceeds (including an upsized $335 million PIPE) and is anticipated to close in the first half of 2022, subject to customary conditions.

American Express Global Business Travel Agrees to Acquire Egencia from Expedia Group

May 4, 2021

Professional Services

American Express Global Business Travel (GBT) has made a binding offer to acquire Egencia, the corporate travel arm of Expedia Group, bringing Egencia into GBT’s business travel platform. As part of the proposed deal Expedia Group would take a shareholder stake in GBT and enter a long-term commercial agreement to power Egencia, subject to employee consultations and customary regulatory approvals.

American Express Global Business Travel Acquires Ovation Travel Group

January 21, 2021

Professional Services

American Express Global Business Travel (GBT) has acquired Ovation Travel Group, including its brands such as Lawyers Travel and Chartwell Travel. The deal brings Ovation's high-touch corporate and luxury travel services and ~700 employees into GBT, giving Ovation access to GBT's global reach, technology platform and products; terms were not disclosed.

American Express Global Business Travel Acquires AI Messaging Start-up 30SecondsToFly

October 8, 2020

AI & Machine Learning

American Express Global Business Travel (Amex GBT) has acquired AI and messaging start-up 30SecondsToFly to integrate its conversational, AI-powered self-service technology into GBT's mobile and messaging channels. The acquisition (closed October 8) will enhance GBT's traveler messaging and automated servicing capabilities while the 30SecondsToFly AI developers join GBT's technology team; terms were not disclosed.

Hudson Hill Capital Forms Fusion Transport by Acquiring Majority Stakes in Global Transport Logistics and Am Trans Expedite

June 1, 2019

Logistics & Distribution

Hudson Hill Capital acquired majority stakes in Global Transport Logistics, Inc. (GTLi) and Am Trans Expedite, Inc. and combined them into a new holding company, Fusion Transport LLC, to create a national logistics platform focused on retail consolidation, LTL shipping and multimodal brokerage. The founders and senior executives of both companies retained meaningful equity and continue in leadership roles while Ally Financial provided acquisition financing.