We’re really happy to report that online travel operator, Travcorp Holdings Ltd has raised £3.7m in equity funding, led by growth capital investor BGF.
We supported the deal with targeted financial due diligence and regulatory advice.
Travcorp specialises in packaged holidays and hotels via its consumer brands – Destination2.co.uk and HolidayGems.co.uk. The two brands service a diverse holiday market from premium, long-haul holidays to low-cost, short-haul packages.
BGF invests in growing businesses in the UK and Ireland as a minority, non-controlling equity partner.
The funding will be used to further invest in technology, marketing and new destinations. The investment will also support Travcorp’s recruitment plans with the creation of 30 new jobs.
This is really good news for the travel industry as a whole. This transaction was completed during the most challenging period the travel industry has ever faced. It demonstrates that investors are still interested in high-quality travel businesses with strong management teams. As travel restrictions ease and demand surges, we’re seeing more and more interest in the sector. The road ahead may still be bumpy, but the long term prospects are strong.
“With BGF’s support as a long-term investor, we believe we will be perfectly placed to capitalise on pent-up demand and accelerate our expected growth for the rest of 2021 and beyond.”Andrew Botterill, Executive Chairman of Travcorp
“Travcorp… has all the fundamentals in place that we look for – a high-quality management team with an excellent track record and a differentiated proposition – all of which have enabled the company to confidently navigate the challenges of the last 18 months.”Spencer Woods, Investor at BGF and new Board member of Travcorp
If you need any travel sector expertise or insights on anything covered above, please get in touch.
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