Travel Department has raised significant investment from MML Capital
Arrowpoint Advisory's Consumer, Retail and Leisure sector team has advised the shareholders of Travel Department on raising significant investment from MML Growth Capital Partners Ireland.
Travel Department is Ireland's leading tour operator for guided group holidays and has a well-established offering from selected UK regions. The business has over 22 years’experience of providing memorable tours to over 100 destinations worldwide, with almost 200 carefully crafted itineraries including cultural breaks, long haul adventures, city breaks and sun holidays.
The business will record revenue of over €40m for 2017 from the UK and Ireland combined, and the investment will help existing management, led by Sara Zimmerman continue to drive significant growth.
Bob Haugh, Founder of Travel Department commented: “We appointed Arrowpoint Advisory due to their market-leading track record in the travel sector and strong relationships with both strategic buyers and private equity investors. They delivered a tightly-run bespoke process where their in-depth knowledge of our business, hands-on approach and ability to guide us seamlessly through the complexities of a transaction was instrumental in concluding a successful result for all stakeholders. We are delighted with the outcome and look forward to seeing Travel Department go from strength to strength with investment from a supportive partner in MML.”
Sara Zimmerman, CEO added: “The guidance and support provided by James, Gavin and Jamie from Arrowpoint Advisory right from the start of the process was invaluable. Their sector knowledge, tactical and strategic advice, and practical, pragmatic approach made a real difference in helping us achieve a successful outcome. I wouldn’t hesitate to recommend them.”
James Lever, Managing Director at Arrowpoint Advisory concluded: “Bob Haugh has developed Travel Department into one of the leading travel brands and businesses in Ireland and, in conjunction with the company's outstanding CEO Sara Zimmerman, has positioned Travel Department for significant growth. We received very strong interest in the business from strategic and financial buyers, but MML delivered a compelling proposition to shareholders and management and will support the business as it continues to expand further in Ireland and internationally.”
The completion of this transaction further reinforces Arrowpoint Advisory's position as advisers of choice to the travel sector, including the recent sales of Ski Solutions, ITC Luxury Travel and Fleetway Travel.