JacTravel changes hands in multi-million pound deal

Thursday, 26 Jun, 2014 0

London-based JacTravel has been bought by private equity group Vitruvian for £80 million.

The B2B accommodation provider and inbound tours operator was sold by private equity firm Bowmark Capital.

The deal is subject to German competition authority clearance.

JacTravel has deals with over 12,400 hotels in 800 cities and handles nearly one million bookings a year, operating from 10 offices worldwide.

It employs 220 staff.

Under Bowmark’s ownership, sales have grown 16% and profits rose 22%.

Chief executive Terry Williamson said: ""With Bowmark’s support, JacTravel has achieved fantastic growth over the last seven years.

"Having established the company as a global player, we are now excited to be partnering with Vitruvian to continue the international expansion program, where further investment will enable us to deliver a number of our key strategic goals in providing market leading technology driven solutions for our international hotel partners and our global customer base."

Ben Johnson, a partner at Vitruvian, said: "Vitruvian invests in fast growing businesses led by outstanding entrepreneurs.

"Terry and his team have achieved excellent growth at JacTravel and we are excited about working with them going forward. 

"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 that JacTravel provides."



 

profileimage

Linsey McNeill

Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...