M&A Deal Summary

American Express Global Business Travel Acquires CWT

On March 25, 2024, American Express Global Business Travel acquired business services company CWT from Redwood Holdings for 570M USD

Acquisition Highlights
  • This is American Express Global Business Travel’s 2nd transaction in the Business Services sector.
  • This is American Express Global Business Travel’s largest (disclosed) transaction.
  • This is American Express Global Business Travel’s 2nd transaction in the United States.
  • This is American Express Global Business Travel’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2024-03-25
Target CWT
Sector Business Services
Buyer(s) American Express Global Business Travel
Sellers(s) Redwood Holdings
Deal Type Add-on Acquisition
Deal Value 570M USD

Target

CWT

Minneapolis, Minnesota, United States
CWT is a global business travel and meetings solutions provider that partners with companies and governments to keep their people connected, in traditional business locations and some of the most remote and inaccessible parts of the globe. CWT is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

American Express Global Business Travel

Stockholm, Sweden
Category Company
Sector Business Services
DESCRIPTION

American Express Global Business Travel is a provider of travel solutions, integrated consulting services, proprietary research, and end-to-end meetings and events capabilities.

DEAL STATS #
Overall 5 of 5
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Minnesota) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Egencia

Seattle, Washington, United States

Egencia is an Internet travel agency that provided travel services exclusively to the corporate market. Egencia would offer comprehensive technology and customer solutions across every segment of business travel. Egencia was founded in 2000 and is based in Seattle, Washington.

Buy -

Seller(S) 1

SELLER

Redwood Holdings

Category Family Office
Founded 2006
Size Large
Type Sector Agnostic
DESCRIPTION

Redwood Capital is the private investment company for Jim Davis, a co-founder of Allegis Group. The Firm looks to acquire majority positions and generally seeks companies with established management in place, opportunities to re-invest earnings, and strong market positions with sustainable competitive advantages. Redwood Capital Investments was formed in 2006 and is based in Hanover, Maryland.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-23 Newly Weds Foods

Chicago, Illinois, United States

Newly Weds Foods is a producer of food ingredients. The Company has operations globally including North America, Europe, and Asia. Newly Weds Foods was formed in 1932 and is based in Chicago, Illinois.

Buy $4.0B
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