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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.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
