TTC advises Travelopia on its buyout by KKR

TTC advised Travelopia on the regulatory aspects of their corporate carve-out from TUI AG, and acquisition by KKR.

15 Jun, 2017 Updated 22 Sep, 2021
Mergers & acquisitions

15 June 2017

TTC advised Travelopia on the regulatory aspects of their corporate carve-out from TUI AG, and acquisition by KKR.

Travelopia, headquartered in the UK, is one of the world’s leading specialist travel groups, providing customers with unique experiences, such as sailing adventures, tailor-made holidays, sports tours, school expeditions, private jet travel and polar expedition cruises. Travelopia has a large, international customer base of over 800,000 travellers each year and serves over 70 destinations globally through its 53 brands.

Will Waggott, CEO of Travelopia, said: “KKR’s experience in the sector, global reach and digital expertise make it the perfect partner for Travelopia as we continue to grow. We look forward to working closely with the KKR team to continue to develop the business and our customer offer.”

Dominic Binefa, Finance Director of Travelopia, said: “We appointed TTC to assist with the regulatory aspects of carving Travelopia out of the TUI Group. Martin and his team worked closely with the senior management team throughout the very complex transaction process, providing advice and guidance on all licensing and bonding matters. TTC’s in-depth knowledge of the ATOL, ABTA and IATA requirements and their previous travel sector transaction experience was invaluable in helping us conclude a successful sale to KKR.”

Martin Alcock, Director of TTC, said: “Travelopia comprises a fantastic selection of blue chip, specialist travel brands and we were delighted to help the team carve them out of TUI group. This was a complicated transaction process due to the size and scale of Travelopia’s operations across many territories. We enjoyed worked closely with Travelopia management, their advisors, Citigroup and KKR’s deal team including Simpson Thatcher Bartlett LLP and Deloitte.”

About Travelopia

Officially formed in October 2016, Travelopia is one of the world’s leading specialist travel groups. A pioneer in the specialist travel sector with a portfolio consisting of more than 50 independently operated brands, most of which are leaders in their sector. From sailing adventures, safaris and sports tours, to Arctic expeditions, each brand is diverse and focused on creating unforgettable experiences for customers across the world.

Travelopia brands pride themselves on offering a seamless and dedicated customer journey. From the exceptional service and in-depth knowledge of the sales teams to best-in-class tour guides and concierges around the globe.

With a multitude of awards to their name, just some of the collection includes; Hayes and Jarvis, Sovereign, Exodus Travels, Citalia, Austravel, Gullivers Sports Travel, Flexiski, American Holidays, The Moorings, Sunsail, and Headwater.

Each of Travelopia’s companies started life as a small, independent business, before forming Specialist Group, a division of the TUI Group, the world’s largest leisure travel company. In May 2016 TUI announced the rebranding of Specialist Group to Travelopia and on 15 June 2017 KKR officially became the new owners of Travelopia.

Finance, Mergers & acquisitions, Regulation