KKR to Acquire Travelopia from TUI
February 13 2017 - 4:02PM
Business Wire
KKR, a leading global investment firm, today announces that it
has agreed to acquire Travelopia (the “Company”) from TUI AG
(“TUI”). The transaction is subject to customary closing
conditions.
Travelopia, headquartered in the UK, is one of the world’s
leading specialist travel groups, providing customers with unique
experiences, such as sailing adventures, tailor-made holidays,
sports tours, school expeditions, private jet travel and polar
expedition cruises. Travelopia has a large, international customer
base of over 800,000 travellers each year and serves over 70
destinations globally through its 53 brands.
Mattia Caprioli, Member & Head of Services at KKR Europe,
said: “The high-end experiential travel market is underpinned by
attractive structural growth drivers. These include the growing
value consumers place on experiences over goods and the increasing
mobility of older travelers. We believe that Travelopia is ideally
positioned to benefit from these trends. We intend to leverage our
experience in the leisure and travel sector gained through
investments such as PortAventura, Get Your Guide, Trainline, Go-Jek
and Apple Leisure, to support management in their strategic
initiatives.”
Edouard Pillot, Director & Head of Business Services at KKR
Europe, added: “KKR has a longstanding and successful track record
with corporate carve-outs, in particular in Europe. Going forward,
the company will have KKR’s full support and will be able to
leverage our technology expertise as well as our global platform.
We look forward to working with the CEO Will Waggott and his team
to support Travelopia in seizing the exciting opportunities ahead,
including harnessing the potential from digital distribution and
CRM and expanding its geographical reach, notably into China.”
Will Waggott, CEO of Travelopia, said: “KKR’s experience in the
sector, global reach and digital expertise make it the perfect
partner for Travelopia as we continue to grow. We have leading
brands, loyal customers, deep destination expertise and a highly
committed employee base, which puts us in a strong position to
address the large and growing experiential travel market
opportunity. I am very excited about the next chapter in
Travelopia’s history and what it will offer our customers.”
KKR was advised by Catalyst Partners, Rothschild, Simpson
Thacher & Bartlett, Dentons, Deloitte & Touche, and Ernst
& Young.
-ends-
About KKR
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world‐class people, and
driving growth and value creation at the asset level. KKR invests
its own capital alongside its partners' capital and brings
opportunities to others through its capital markets business.
References to KKR's investments may include the activities of its
sponsored funds. For additional information about KKR & Co.
L.P. (NYSE:KKR), please visit KKR's website
at www.kkr.com and on Twitter @KKR_Co.
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