Vitruvian takes off with Bowmark's JacTravel

Under Bowmark's stewardship the company has entered new geographical markets including Latin America, Asia and the Middle East. Sales have increased by a compound annual growth rate of 16% and profits by 22%.

Following the deal, Vitruvian will support JacTravel by investing in its technology and continued expansion into new geographical markets.

Previous investment
Bowmark acquired JacTravel (known then as JAC Group) in September 2007, investing £11m. The deal was supported with senior debt provided by RBS.

Company
Established in 1975, JacTravel is a B2B hotel accommodation wholesaler and provider of inbound travel services. It holds partnerships with more than 12,500 hotels in 800 cities worldwide. The company enables customers to book hotel accommodation online at competitive rates, as well as holiday tours.

The company operates from 10 offices globally, including London, Edinburgh, Hong Kong, Canada, Dubai and Cyprus, employing 224 staff. The group generates turnover of £150m.

People
Terry Williamson is CEO of JacTravel. David Torbet is a partner at Bowmark. Ben Johnson is a partner at Vitruvian.

Advisers
Vendor – PwC (Corporate finance); Deloitte (Financial due diligence); King & Wood Mallesons SJ Berwin (Legal).
Equity – Duff & Phelps (Corporate finance); BDO (Financial due diligence); Shearman & Sterling (Legal); OC&C (Commercial due diligence).
Management – Livingstone Partners (Corporate finance); Pinsents (Legal); 42 Consulting (Tax).

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• Topics
• UK / Ireland
• Buyouts
• Bowmark Capital LLP
• Vitruvian Partners