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Direct Travel, A Portfolio Company of Silver Oak Services Partners, Completes Three Add-on Acquisitions
Dec. 12, 2014 -Portfolio Company NewsDirect Travel, Inc. (“Direct Travel”), a portfolio company of Silver Oak Service Partners LLC, announced that is has acquired Best Travel, Peak Travel and Suzi Davis Travel.
Founded in 1969, Best Travel is a Chicago agency specializing in corporate, leisure/luxury and group travel. Best Travel is ranked in the top one percent of all Travel Management Companies in North America, and has four offices throughout the greater Chicago area. Best Travel has been successfully managing travel programs for over 45 years, and brings a sales volume of $207 million. Guy Bernacchi, CEO of Best Travel comments, “We were thrilled to see that our companies embrace the same unique management philosophy. We leverage globally, structure regionally, and manage locally. I strongly believe this is a key compatibility.” Bernacchi adds, “For our clients, becoming part of Direct Travel reinforces our unrelenting commitment to quality, service and value that has characterized our agency and people for over 45 years.”
Founded in 1962, Peak Travel is a West Coast agency specializing in corporate, leisure and group travel. Ranked as one of the top Travel Management Companies in North America, Peak Travel is headquartered in San Jose, California, and has offices throughout Oregon. Peak Travel has been successfully managing travel programs for over 50 years, and brings a sales volume of $185 Million. Tyler Peak, President of Peak Travel comments, “We are excited about this partnership, and truly believe it is a win-win for both agencies. Our organizations share a mutual respect and trust based on similar core values, and I firmly believe this is a key compatibility.”
Founded in 1979, Suzi Davis Travel is a full-service travel agency specializing in leisure, corporate and group travel. Ranked as one of the top leisure agencies in North America, Suzi Davis Travel is headquartered in Bloomington, Illinois and has offices throughout Illinois and Missouri. Suzi Davis Travel has been successfully managing corporate and incentive travel programs for over 30 years, and brings a sales volume of $65 million. Tim Davis, President of Suzi Davis Travel comments, “Our mission has always been to provide world class service on a local level, and becoming part of a greater enterprise is critical to maintaining the key relationships that will ensure our clients continue to receive the best of the best from sales to service.” Davis adds, “We knew it was in our best interest and the interest of our clients, to find a partner that would allow us to expand our technology and place us in a better position to compete with the mega agencies. We had options as to which enterprise we would select, and we are very pleased we were able to partner with such a dynamic operation as Direct Travel. Direct is truly taking a leadership role in our industry and we know this relationship will allow us to continue to be a partner within the communities we serve, for many years to come.”
Overview of Direct Travel
Direct Travel is a leading provider of outsourced corporate travel management. The Company helps clients achieve lower corporate travel spend via management of travel policy, efficient booking, and identifying cost saving opportunities with suppliers while providing employees with a better travel experience. Direct Travel has offices in 34 locations across the U.S. and is ranked among the top US corporate travel management firms.
Silver Oak and management continue to build the Direct Travel platform into a premier provider of corporate travel management services across the United States. The company has completed 10 acquisitions since its partnership with Silver Oak and continues to pursue add-on acquisitions of complementary businesses in attractive geographies.
Please contact Ed Adams of Direct Travel or Dan Gill or Andrew Gustafson of Silver Oak for additional information.
Silver Oak invests in business, consumer and healthcare services companies in the lower middle market, typically with EBITDA of $3 million to $20 million.
Silver Oak Services Partners, LLC
1560 Sherman Ave, Suite 1200
Evanston, IL 60201
Phone: 847-332-0400