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Traveltek

Travel technology solutions for travel agents and tour operators

Website
traveltek.com
Sector
Application software
YFM investment
Undisclosed
Investment date(s)
2016, 2018 &2019 - 2024
Deal type
Growth Capital
Location
East Kilbride

"YFM are an incredibly pro-active and forward thinking organisation, who support and empower their management teams to get on and ‘do the job’. YFM identified an opportunity to accelerate the growth in Traveltek, both in the UK and now globally. I am personally incredibly excited about the next chapter and look forward to working with YFM to create optimum value for its stakeholders and investors."

Mal Barritt, CEO

Key Information

The Business

Traveltek is a global leader in travel technology software, renowned for delivering cutting-edge solutions that empower travel businesses worldwide. With a suite of award-winning products, Traveltek enables travel companies to streamline their operations and enhance customer experiences, processing transactions worth billions for over 200 clients globally.

During YFM Equity Partners’ involvement, Traveltek significantly expanded its global footprint, establishing operations across North America and Australasia, while continuing to innovate in its core offerings, particularly in cruise technology.

Why We Invested

YFM identified Traveltek as a high-potential investment due to its established position in the travel technology market, innovative product suite, and experienced management team. The company’s ability to adapt to industry challenges, including navigating the COVID-19 pandemic, demonstrated its resilience and growth potential.

Growth Story

Traveltek achieved key milestones during its partnership with YFM, transforming from a UK to an international business with a strong specialism in cruise travel technology:

  • Global Expansion: Extended its reach to beyond the UK to North America and Australasia.
  • Product Innovation: Re-architected its core offerings and developed new solutions, including industry-leading cruise booking technology.
  • Revenue Growth: More than tripled its revenue, supported by a robust product portfolio and a growing global customer base.
  • Resilience Through Challenges: Successfully navigated the pandemic, which saw the closure of its sector for long periods with YFM providing support follow on funding during this periodStrategic Exit: In 2024, YFM completed a successful exit, with Traveltek being acquired by Juniper Group, a global travel technology specialist  providing the business with access to expanded resources and increased global distribution.

These accomplishments underscore Traveltek’s evolution under YFM’s investment period, solidifying its market-leading position and paving the way for continued success.