The deal paved the way for YFM Equity Partners, which has been an investor in Traveltek since 2016, to exit its stake in the company.
YFM, which took part in three investment rounds in the Scottish firm, in 2016, 2018, and 2019, noted that Traveltek’s revenue had tripled since it first became involved. It declared that its investment in Traveltek had facilitated its expansion across five key global regions, including North America, Australasia, and Latin America, and supported the “re-architecting” of its core products and development of an expanded product suite.
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Mal Barritt, chief executive of Traveltek, said: “YFM’s investment accelerated the growth of Traveltek to command a market leading…