JacTravel changes hands in multi-million pound deal
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."
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
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