ISIS backs buyout of car hire broker Traveljigsaw

Tweet
Facebook
LinkedIn
Google plus
Send to

ISIS Equity Partners has backed the buyout of online car hire broker Traveljigsaw Ltd. The deal value, although unconfirmed by ISIS, has been reported as £26m. The management also reinvested a part of their proceeds.

The company was introduced to ISIS by James Lever and Daniel Domberger of Livingstone Partners. An £8m debt facility comprising senior debt and working capital was provided by Yorkshire Bank with Ian Howey and Ian Mansell leading the deal for the bank.

Traveljigsaw is based in Manchester and was founded in 2004. It is an international online care hire broker with a UK-based multi-lingual call centre delivering its service to over 75 nations worldwide. Records at Companies House show £2.2m of profits for Traveljigsaw for the year ending December 2007 and turnover of £37.3m for the same period.

Shani Zindel and Daniel Smith led the deal for ISIS, with Simon Ward working on it with them. Zindel and Adam Holloway will join Traveljigsaw's board. An external non-executive chairman will be appointed at a later stage. Gregory Wills is managing director of Traveljigsaw. (Page 32)