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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.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
