Bancroft Invests in Turkish Travel Portal Tatilsepeti.com

Tatilsepeti.com said on Wednesday that it has received an investment from London-based Bancroft Private Equity. No financial terms were disclosed. Ventura Partners served as financial advisor for the transaction. Also, the founding partners at Tatilsepeti.com will continue in their roles. Tatilsepeti.com is a tourism site focused on travel in Turkey.

PRESS RELEASE

ISTANBUL, June 26, 2013 /PRNewswire/ —
Tatilsepeti.com has become the first Turkish company to receive foreign investment for online tourism
Tatilsepeti.com has become the first Turkish company to receive foreign investment in the online tourism field with an investment from London-based investment trust Bancroft Private Equity. Indicating that there will not be any changes to the company’s management or structure, Chairman of the Board, Kaan Karayal, said the cooperation with Bancroft will make Tatilsepeti.com the leading Turkish tourism company, and subsequently place it among the top international tourism portals.

Turkey’s biggest tourism portal, Tatilsepeti.com, has received an investment from London-based investment trust Bancroft Private Equity. Bancroft has become the fourth shareholder of Tatilsepeti.com, and has announced that the company will continue to be managed by the founding partners. The financial aspect of the investment process was managed by Ventura Partners and the legal aspect by Gemicioğlu Law Office.

A first in Turkish internet sector
Underlining the fact that Bancroft’s investment is the first foreign investment in a Turkish tourism portal, Tatilsepeti.com’s Chairman of Board, Kaan Karayal, stated: “With over 18 million annual visitors, 10 million of which are unique visitors, we are the leading tourism portal in Turkey. With the strategic cooperation of Bancroft, we believe that the Tatilsepeti.com brand will rank among the major international tourism portals. We will not make any changes in our management, nor will there will be any structural change, but we will make our already solid financial base even stronger.”

Karayal emphasized that Bancroft, which focuses mainly on Central and Eastern Europe, has chosen Tatilsepeti.com as its first investment in the Turkish online market, and continued: “Bancroft has made many important partnerships in Europe since 1996, and with their choice of Tatilsepeti.com in Turkey, we feel encouraged that we are on the right path. Şenol Aktüre from Ventura Partners, which is among the most experienced companies in its field, and Bora Gemicioğlu from Gemicioğlu Law Office have made positive contributions during this process by guiding us with their experience.”

Levent Aydınoğlu, Bancroft’s representative in Turkey, said that, managing 250 million EUR funds since its foundation, Tatilsepeti.com is the company’s fifth investment in Turkey. It follows investments in Standard Profil, Kayalar Kimya, Eko Finans Faktoring and Graniser. He continued: “Holiday makers in Turkey carry out 80 per cent of their holiday research online. Research shows that the first portal that comes to the holiday-makers’ minds is Tatilsepeti.com. We believe that with this investment we will push the potential of this portal even further.” Aydınoğlu indicated that the investment they have made is not only for the benefit of the company but also for the current management and staff, and they will do their best to make sure that the current harmony continues.
About Tatilsepeti.com:
Tatilsepeti.com, founded in 2002, is a tourism portal that has been serving millions of visitors with holiday options since 2004. Tatilsepeti.com is the leading tourism portal in Turkey with over 18 million visitors, 10 million of which are unique visitors. Tatilsepeti.com, which is the leader in the online domestic travel sales sector, made an agreement with Expedia, one of the biggest travel portals in the world, and began overseas sales of holiday packages.
With the largest product options, most accurate information, best payment options and a customer-oriented before and after sales service, Tatilsepeti.com operates with the mission of providing a travel shopping experience that exceeds customer expectations. That is why Tatilsepeti.com offers the most respected tour operators in Turkey, with over 1500 domestic and over 100,000 foreign hotels, hundreds of foreign and domestic tours, and thousands of plane ticket destinations all under one roof.
Tatilsepeti.com’s vision is to be the first tourism brand that comes to people’s minds for the most innovative and reliable holidays, fulfilling customers’ travel needs by understanding them and offering them the highest quality of service. Tatilsepeti.com’s call centre, with an experienced staff of 130 advisors, plays the most important role in making this vision real.
For detailed information about Tatilsepeti.com and offered services you may reach us through the web site http://www.tatilsepeti.com or by telephone at +90 212 444 44 20.
About Bancroft Private Equity:
Bancroft is one of the best-known private capital fund management companies focused mainly on the middle-sized companies in the Central and Eastern Europe. Since the first investment fund was established in 1996, it has made investments in over 19 different companies, 13 of which it left with success. After the sales of Standard Profil in 2013, Bancroft currently has 4 investments in Turkey: Tatilsepeti.com, Kayalar Kimya, Eko Finans Faktoring and Graniser. Managing funds with a value of 250 million EUR since its foundation, Bancroft continues its investments with Bancroft 3 LP fund today.