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Your email address will not be published.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

Aer Lingus announces new measures for the safety of Customers and Staff 

Michael FloodMay 29, 2020

Silversea launches “Virtual Visits ” with travel partners

Michael FloodMay 29, 2020

CAR Renews 92 Travel Agent Licences, Nine Still Pending

Neil SteedmanMay 29, 2020

Win a Holiday for Two in Lanzarote with Blue Insurance and Aqua Suites

Neil SteedmanMay 28, 2020

Join Amazing Thailand’s Live Webinars

Neil SteedmanMay 26, 2020

Spain reopens for Irish visitors from 1st July

Michael FloodMay 26, 2020

Hertz Files for Bankruptcy in USA and Canada

Neil SteedmanMay 26, 2020

Emirates introduces Complimentary Hygiene Kits for every passenger

Michael FloodMay 26, 2020

The Travel Corporation Overhauls Hygiene Standards

Neil SteedmanMay 26, 2020

Copyright © 2019 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland