G Adventures has reached a buy-out agreement with private equity firm Certares, which had invested in the adventure travel operator in February 2021.
The tour operator and the private equity firm have parted ways more than three years after Certares invested in G Adventures to help with its growth plans.
Founder Bruce Poon Tip said: “Back in 2021, as we navigated our way out of the pandemic, G Adventures closed a capital investment from Certares to position us for accelerated growth.
“We developed an aggressive recovery strategy, which included hefty investments in our technology infrastructure.
“I’m excited to report that this work, combined with strong business performance over the past 12 months, which saw us over perform and hit 2027 targets, has allowed us to come to a buy-out agreement with Certares.”
The operator said that Poon Tip has always held, and continues to retain, 100% ownership of the business.
It would not confirm any figures about the buy-out agreement, but did confirm that “no new shareholders or investors will enter the business as part of this agreement”.
Poon Tip continued: “Certares has been a fantastic partner, from whom we have learnt a great deal, and has been an invaluable support in a turbulent time and we thank them for their flexibility and guidance.
“As we look to 2025, we’re in an incredibly strong position as we continue to scale and explore new opportunities to support our journey to becoming a billion US dollar company.
“It’s a very exciting time at G Adventures, with a number of innovative new projects ready to roll in the coming months – watch this space.”
More: G Adventures founder remains on acquisition trail
Private equity firm Certares invests in G Adventures
When the 2021 deal was agreed, G Adventures did not disclose the value of the growth capital investment, but Bruce Poon Tip remained the controlling shareholder.
Poon Tip said at the time that the investment would enable G Adventures to seek merger and acquisition opportunities.
In May 2023, he told Travel Weekly that he was still on the acquisition trail, despite a couple of deals falling through in November 2022.
His announcement about the buy-out agreement came as part of his end-of-year message, which hailed record company growth in 2024 – as well as agent incentives, such as tickets to see Taylor Swift’s Eras Tour in London and Toronto.
In September, more than 500 travellers, agents, suppliers, media and staff attended the GX Summit in India (pictured).
“The business has continued to go from strength to strength, with us closing the year with double-digit growth once again, jet-propelled by an incredibly strong past quarter, including the best Cyber Sale period ever, which saw a 42% increase in global sales,” he said.
“Hats off to our team in the UK and Ireland, who saw an impressive 35% increase in cyber sales compared to 2023.”
Poon Tip said there will be 200 new trips in 2025, with a 50% increase in departures.
“We’ll be taking travellers to new destinations, including Pakistan and the Balkans as well as lesser-visited regions of destinations including Japan and South Africa, while helping to bring the power of tourism to local communities who have been unable to benefit previously,” he added.