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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.
FGS Global represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
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