The latest development will see CEO Don Beattie shift from leading the business to an advisory capacity while the ownership transition process takes place.
Meanwhile, Lesley Owen has been appointed Group General Manager following the deal.
Owen said she is looking forward to continuing the legacy created by founders Karen and Roy Merricks, as well as working alongside Sara and Ben Merricks, who will remain in the business.
“I am honoured to lead MTA, a business I have admired for a long time for its unique client offering and agent proposition,” she said.
Helloworld acquired a 50% interest in MTA in 2016 for $14.2 million, and as part of the purchase agreement, the company had the option to buy the remaining 50% stake until 31 Dec 2021. However, the deadline was extended to 2025 due to the impacts of the pandemic.
The final acquisition this morning takes Helloworld’s total investment in MTA to around $50 million, and is expected to add an extra $440 million in annualised TTV to its bottom line. MTA currently has 60 staff and boasts around 450 home-based travel agent advisors.
