Genstar Capital Management has sold portfolio company TravelClick to Thoma Bravo for $930 million.
Thoma Bravo TravelClick is a provider of cloud-based software solutions to the hospitality industry.
Genstar Capital Management, LLC, a leading middle market private equity firm that focuses on investments in targeted segments of the software, financial services, healthcare, and industrial technology industries, today announced that it has completed the sale of portfolio company TravelClick, a global provider of innovative cloud-based software solutions to the hospitality industry, for $930 million.
TravelClick’s expert solutions enable hotels to optimize performance, grow revenue, and create a strong brand. Genstar and Bain Capital Ventures acquired TravelClick in 2007. Since the acquisition, the company has more than doubled revenue and EBITDA, gained market share, and solidified its leadership position as the only player in the industry to offer the breadth, depth and global reach of products and services.
During Genstar’s ownership, the firm recruited a strong management team led by CEO Larry Kutscher, a key strategy to accelerating the company’s growth. TravelClick grew its market leadership in the hospitality data, marketing and software sector over the past seven years by significantly investing in the business to drive growth both organically and through two significant acquisitions, updating technology, implementing a new reservation booking engine, and nearly doubling the sales force. As a result, the company today is a key partner to a diverse and global client base that includes independent properties, chain hotels, management companies, and other travel businesses.
Jean-Pierre L. Conte, Chairman and Managing Director of Genstar Capital, said, “Genstar launched its software industry focus seven years ago and closing this sale is a strong validation of our strategy of driving improvements in vertical market leaders. Larry and his team have delivered outstanding results and we’d like to thank them for their leadership.”
With local experts around the globe, TravelClick is deployed by more than 38,000 hotel properties in over 150 countries to drive profitable room reservations through better revenue management decisions, proven reservation technology and innovative marketing. Since 1999, TravelClick has helped hotels leverage the web to effectively navigate the complex global distribution landscape.
About Genstar Capital, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $3 billion of committed capital under management and targets investments focused on selected sectors within the financial services, software, healthcare, and industrial technology industries.