Canada’s Juniper Group, an operating unit of Vela Software and Constellation Software, Inc, announced the acquisition of Glasgow-based Traveltek, which it called “an innovative suite of travel technology solutions that simplifies the process of searching, booking, and managing leisure travel.”
The deal marks a successful exit from Traveltek for YFM Equity Partners.
Since YFM’s initial investment, Traveltek has expanded its reach across five key global regions, establishing a strong presence in North America, Australasia, and Latin America. YFM said it has exited alongside its co-investor Fullbrook Thorpe Investment.
“This strategic acquisition represents another relevant milestone for the Travel & Hospitality arm of Juniper Group in its pursuit of being recognized as the leading end-to-end travel software partner globally,” said Juniper Group.
“With this achievement, Juniper Group expands its presence in the United Kingdom, Australian, and North American markets and allows each party to mutually expand and grow their product offering to clients.”
Jaime Sastre, CEO of Juniper Group and Founder of Juniper Travel Technology, said: “We are extremely excited to welcome Traveltek to Juniper Group.
“Traveltek’s talented management team and high performing technology stack are a fantastic addition to our portfolio of travel software companies.
“Together, we can deliver more comprehensive solutions and meet the full range of technology needs for our customers and partners.”
Traveltek CEO Mal Barritt said: “We are absolutely thrilled to become part of Juniper Group, and the wider Vela Software and Constellation Software family.
“Leading Traveltek into this new chapter is a proud milestone. This offers our customers unparalleled access to a broader array of resources and industry-leading products.
“Importantly, it also provides an exciting and sustainable home for Traveltek, where our team will have new growth and development opportunities.”
Jonathan Marlow, Portfolio Director at YFM Equity Partners, said: “Traveltek’s success is a testament to Scotland’s vibrant tech ecosystem, and we are proud to have been a part of the company’s journey. supporting a first-class management team led by CEO Mal Barritt.
“This achievement reinforces our commitment to investing in dynamic Scottish businesses. We are confident that under Juniper Group’s guidance, Traveltek will continue its impressive trajectory, leveraging global resources to enhance its offerings.”
Traveltek CEO Barritt added: “YFM’s investment accelerated the growth of Traveltek to command a market leading position.
“It’s important to acknowledge the tremendous support from YFM, especially through the challenging trading period of COVID. Traveltek benefited from wider initiatives and experience from both the team and other portfolio
customers at YFM.
“Becoming part of Juniper Group and the wider Vela Software and Constellation Software family represents an exciting new chapter for Traveltek. Our customers will benefit from expanded resources and products, while our team will have new growth opportunities within this thriving software network.”