Brockhaus Private Equity has acquired a minority stake in travel distribution software provider Peakwork, as part of a financial restructuring of the business.
Financial terms have not been disclosed but the investment has been made via a capital increase and purchase of shares from existing shareholders.
The company intends to use the investment to continue development of its technology and spearhead its ongoing international expansion.
Eight-year-old Peakwork has offices in the UK, US, Singapore and is headquartered in Dusseldorf, Germany.
The investment follows a 15.4% stake in the business that was bought by TUI Group just six months ago.
Peakwork creates distribution software that it licenses out to the travel value chain.
It connects supply — from dozens of airlines, package suppliers, hotels, bedbanks, global distribution systems (GDSs), and other sources – with distributors, including tour companies (such as Thomas Cook), online travel companies (like Trivago), networks (like Expedia Affiliate Network), tours and activities brands (such as GetYourGuide), and other distributors.
Airline partners include Lufthansa, Eurowings, Emirates, EasyJet and Turkish Airlines.
Peakwork CEO Ralf Usbeck says:
"As well as taking our software to the next level of automation, we are currently on the brink of entering further new markets in Asia.
"At the same time, we are greatly strengthening our partner platform through the addition of global travel and hospitality offerings.
"The investment by Brockhaus Private Equity will help us gain additional speed, just as our first investor, TUI Ventures, has enabled us to grow more quickly."