The owner of Travel Weekly in the US has been acquired by private equity firm Wasserstein Partners for an undisclosed fee.
New Jersey-based Northstar Travel Group, which operates independently from Travel Weekly Group in the UK, owns a range of brands including the US Travel Weekly, TravelAge West, Business Travel News and Travel Weekly China.
It also owns research, business intelligence and event producer Phocuswright, and is a majority shareholder in e-commerce software provider Inntopia.
Wasserstein Partners has acquired Northstar from the Wicks Group of Companies, alongside its co-investors Alberta Teachers’ Retirement Fund Board, John Hancock, and Storebrand Insurance.
Thomas Kemp, chairman and chief executive of Northstar Travel Group, said: “We are excited to welcome Wasserstein as our new partner to provide the capital and investment experience to help Northstar achieve our next phase of growth serving one of the largest and most dynamic industries in the world: global travel and tourism.”
Anup Bagaria, co-managing partner of Wasserstein, added: “We are very impressed with the growth of Northstar Travel Group over the last few years.
“The management team has done an excellent job of transforming its core business into an integrated information, data, software, event and marketing solutions company.”