Private equity group Vitruvian Partners has bought accommodation wholesaler and inbound operator JacTravel in a deal worth £80 million.
Vitruvian has acquired the B2B wholesaler from private equity firm Bowmark Capital, which bought the business in August 2007. The deal is subject to German competition authority clearance.
JacTravel has more than 12,500 independent and chain hotel partners in 800 cities worldwide and processes almost one million bookings a year. It has 10 offices and employs 220 staff.
Since it was acquired by Bowmark, JacTravel has expanded its global presence, setting up customer and supplier relationships in Latin America, Asia and the Middle East.
Sales have grown at an annual growth rate of 16% since 2007 and profits at 22% a year.
Fresh investment is planned in the company’s technology and growth in new markets under the new owners.
JacTravel chief executive Terry Williamson said: “Having established the company as a global player, we are excited to be partnering with Vitruvian to continue the international expansion programme.
“Further investment will enable us to deliver our key strategic goals in providing market leading technology-driven solutions for our international hotel partners and global customer base.”
Ben Johnson, a partner at Vitruvian, said: “There is a significant opportunity for the business to continue to grow internationally and serve the large and growing global travel market which has a clear need for the technology and services JacTravel provides.”