An agreement has been announced to acquire Travelopia from TUI AG by leading global investment firm KKR
The world’s largest collection of specialist travel brands, Travelopia, has today (14 February 2017) confirmed leading global investment firm KKR as its new owner, subject to customary closing conditions and certain regulatory approvals. KKR acquires Travelopia for an Enterprise Value of 381 million euros (£325 million).
The move follows TUI AG’s announcement in May 2016 to sell Travelopia, formerly Specialist Group, which comprised of over 50 specialist travel brands, due to their differing business models and strategic focus to TUI’s core Tourism businesses.
KKR (Kohlberg Kravis Roberts & Co L.P.) is a leading global investment firm founded in 1976. Headquartered in New York, the global firm has offices in 20 cities in 16 countries across 5 continents, including a large office in London. KKR is currently invested in over 100 companies across the globe in many different sectors including leisure.
Will Waggott, CEO of Travelopia says: “We are delighted that KKR is our new owner. Travelopia is a global business and KKR has a truly global reach. We have a shared ambition to deliver strong growth across our brands through the amazing customer experiences we deliver. The Travelopia board and I feel that there is a very strong cultural fit with KKR and we are looking forward very much to our future together.”