SAN FRANCISCO—Thoma Bravo LLC, a private equity investment firm, announced that it has entered into an agreement to acquire TravelClick, a global provider of revenue generating cloud-based solutions for the $500 billion global hospitality industry. Thoma Bravo has agreed to acquire TravelClick from Genstar Capital for $930 million. The transaction is expected to close in the second quarter of 2014.
“The acquisition of TravelClick is consistent with Thoma Bravo’s strategy of investing in market leading companies with significant recurring revenue streams,” said Holden Spaht, managing partner at Thoma Bravo. “Larry Kutscher and his team have established an impressive track record of growing TravelClick rapidly and expanding the company’s services to its customers. We look forward to working with them to continue building on TravelClick’s position as the largest pure play provider of revenue enhancing technology to the hotel industry.”
“TravelClick has experienced phenomenal growth over the last several years, and we look forward to working closely with the Thoma Bravo team to help facilitate our continued trajectory,” said Larry Kutscher, CEO of TravelClick.
Kirkland and Ellis LLP served as legal adviser and Credit Suisse served as financial adviser to Thoma Bravo. Evercore acted as exclusive financial adviser to Genstar and TravelClick, and Ropes and Gray acted as legal adviser.