Gladstone Place Partners and Abernathy MacGregor handle the $4.4B cash acquisition of Travelport Worldwide by Siris Capital Group and Evergreen Coast Capital, the Menlo Park technology affiliate of Elliott Management Corp.
Doug Steenland, Travelport chairman, considers the $15.75 per-share offer a “good outcome” for shareholders, considering the ongoing development needs of the travel commerce platform based in Langley, UK.
Travelport, which had $2.4B in 2017 revenues, is among the leaders in airline merchandising, hotel content/distribution, car rental, and B2B payment solutions.
It also provides IT services to airlines for shopping, ticketing and departure control.
Travelport earned $72M on $2B revenues for the nine-month period. It projects 2018 revenues in the $2.5B range.
The deal, which is expected to close during the second-quarter of 2019, includes a “go-shop” provision that runs through Jan. 24.
Gladstone senior VP Michael Flaherty is working the deal with AbMac senior VP Blair Hennessy and managing director Dana Gorman.