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Your email address will not be published.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 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

Adare Manor Wins Virtuoso ‘Hotel of the Year 2018’

Michael FloodAugust 16, 2018

CLIA UK and Ireland 2019 Conference Dates

Michael FloodAugust 16, 2018

Lainey’s Adventures: 48 Hours in Phnom Penh, Cambodia

Neil SteedmanAugust 16, 2018

Emirates Introduces New Range of Toys Onboard

Neil SteedmanAugust 15, 2018

German NTB Launches New German Summer Cities Campaign for 2019

Michael FloodAugust 15, 2018

Travel Solutions Launches Festive Breaks Brochure

Neil SteedmanAugust 15, 2018

Click&Go Partners with 2018 Lanzarote Marathon

Neil SteedmanAugust 15, 2018

Dublin Airport Opens New Transfer Facility

Neil SteedmanAugust 14, 2018

Royal Caribbean International Launches SoundSeeker

Michael FloodAugust 14, 2018

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