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Your email address will not be published.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 50 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 40 years.

More in News

Sunway and Cobalt Air Give Travel Pros a Taste of Cyprus

Fergal McAlindenMay 24, 2018

Karen Wins Two Tickets to Beijing with Hainan Airlines

Neil SteedmanMay 24, 2018

WIN Two Tickets to the 2018 Irish Travel Trade Awards!

Neil SteedmanMay 24, 2018

“ATC in Europe is a Mess” – Willie Walsh at CAPA

Neil SteedmanMay 24, 2018

Irish Ferries Unveils Legoland Family Deal

Neil SteedmanMay 24, 2018

Eurostar is First Rail Operator on Travelport Rich Content and Branding

Michael FloodMay 24, 2018

British Airways Launches New Dublin to Manchester Service

Michael FloodMay 24, 2018

SkyTeam Introduces Multi-Airline FF Award Booking Tool

Neil SteedmanMay 24, 2018

New Artisan Coffee Outlet Opens at Cork Airport

Neil SteedmanMay 24, 2018

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