JacTravel, a UK-based hotel consolidator and inbound travel service provider, has been sold to private equity group Vitruvian Partners for $135 million.
Vitruvian gets its hands on JacTravel from Bowmark Capital, a fellow private equity firm which acquired JacTravel in August 2007.
Under its new ownership, JacTravel says it will accelerate investment in technology and continue pursuing growth in these markets - USA, Australasia, China and Russia.
JacTravel partners with over 12,500 independent and chain hotels in 800 cities globally and processes about one million bookings per year.
CEO of JacTravel, Terry Williamson, told Tnooz that in the next three years, it is aiming to increase the hotel partners to 20,000.
Currently, the company has over 1,000 customers that consume JacTravel's online hotel wholesale service. These customers include travel agents, OTAs and tour operators.
Partner at Vitruvian, Ben Johnson, says:
"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."
Between the year 2009 and 2013, JacTravel's EBIDTA grew 41%, and turnover grew by 20%.
Competitors of JacTravel include GTA and Miki Travel.
Founded in 1975, the company employs 220 people across its ten offices including Edinburgh, Hong Kong, Larnaca and Dubai.