News

MML Invests €12m in Controlling Stake in Travel Department

MML Invests €12m in Controlling Stake in Travel Department

MML Capital Partners Ireland, an Enterprise Ireland-backed fund, has invested up to €12 million for a controlling stake in Travel Department. The existing management team, including Sara Zimmerman, Managing Director, is to stay with the business and company founder Bob Haugh will continue as an investor.

 

The investment, which is expected to complete before the end of March, is the 10th made by the €125 million fund, whose other backers include AIB and a number of international investors.

 

MML provides capital to businesses for expansions, acquisitions, shareholder reorganisations, recapitalisations and management buyouts within the range of €2 million to €12 million. Other recent investments made under the fund include deals involving Fastway Couriers, Prim-Ed Publishing and Identigen, a food-tracking business in which financier Paul Coulson previously had a stake.

 

“We are backing a market leading business led by an experienced team with a very strong understanding of the market and their customers, and with significant ambitions for the future,” said Neil McGowan, Investment Director, MML.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

Shannon Airport Welcomes Opportunity to Extend US Preclearance Facilities

Neil SteedmanJanuary 16, 2019

Dublin Airport Sets New Passenger Record in 2018

Michael FloodJanuary 16, 2019

Finnair to Fly to Sapporo in Japan

Michael FloodJanuary 15, 2019

Ryanair Holidays is “Discontinuing” Its Service

Neil SteedmanJanuary 15, 2019

CAR Advises Trade on Aviation Licences in Event of No Deal Brexit

Neil SteedmanJanuary 15, 2019

Cork International Travel Fair on First Weekend of February

Neil SteedmanJanuary 14, 2019

Turkish Airlines Bowling Tournament Excitement Has Begun

Michael FloodJanuary 11, 2019

Keith Prowse Appointed Official Irish Reseller for Wimbledon Hospitality Packages

Neil SteedmanJanuary 10, 2019

New Healthy and À la Carte Menus Onboard Air France Flights

Neil SteedmanJanuary 9, 2019


Copyright © 2016 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland