TravelAge West parent company Northstar Travel Group was recently acquired by Wasserstein Partners.
Wasserstein Partners acquired Northstar Travel Group, the leading provider of business-to-business information, content, events, data, research, custom content and software dedicated to the global travel and meeting industries, from the Wicks Group of Companies.
Terms of the acquisition were not disclosed.
Northstar is the owner of multiple brands including TravelAge West, Travel Weekly, Phocuswright, Business Travel News, Successful Meetings, Meetings & Conventions, Travel Weekly China, Incentive, M&C China, Incentive and Web in Travel. The company produces more than 50 face-to-face events in 13 countries in retail travel, corporate travel, travel technology and the meetings industry. Northstar is also the majority shareholder in Inntopia, the leading SaaS e-commerce software provider serving the mountain destination, activities and specialty destination travel markets.
“We are excited to welcome Wasserstein as our new partner to provide the capital and investment experience to help Northstar achieve our next phase of growth serving one of the largest and most dynamic industries in the world: global travel and tourism,” said Thomas Kemp, Chairman & CEO of Northstar Travel Group. “Wicks has been a great partner to the company and we thank them for providing guidance and insight over the last four years.”
Daniel Kortick, managing partner of Wicks, said he was pleased with the sale and wishes Northstar and Wasserstein “the best as the company embarks on its next phase of growth.”
Wassertein’s co-managing partner Anup Bagaria also commented on the growth of Northstar Travel Group, applauding the management team for its efforts in “transforming its core business into an integrated information, data, software, event and marketing solutions company.”
Further investments are to come.
“We are excited about investing in the company’s continued transformation and growth through geographic expansion, new product development and strategic acquisitions,” said Michael Struble, partner of Wasserstein.
Investing alongside Wasserstein Partners IV were its co-investors, Alberta Teachers’ Retirement Fund Board, John Hancock and Storebrand Insurance.