YFM Equity Partners (“YFM”) announces its successful exit from Traveltek, a global leader in travel technology software, which has been acquired by Juniper Group, part of Vela Software and Constellation Software, Inc. (TSX: CSU). This milestone reflects Traveltek’s transformative growth and global expansion, highlighting YFM’s commitment to supporting high-growth companies in Scotland and beyond.
Headquartered in Glasgow, Traveltek is an example of Scotland’s strength in technology innovation and entrepreneurship, with YFM’s investment facilitating the company’s expansion across five key global regions, including a strong presence in North America, Australasia, and Latin America. YFM has supported the business in re-architecting its core products and developing an expanded product suite, which now includes industry-leading cruise technology. Since YFM’s investment, Traveltek’s revenue has more than tripled. YFM has exited alongside its co-investor Fullbrook Thorpe Investments who have worked closely together to drive the development of the Traveltek business.
Jonathan Marlow, Portfolio Director at YFM Equity Partners, commented: “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.”
Mal Barritt, CEO of Traveltek, 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.”
Jaime Sastre, CEO of Juniper Group and Founder of Juniper Travel Technology expressed enthusiasm for the acquisition: “We are delighted to welcome Traveltek to Juniper Group. Their high-performance technology and skilled management team align perfectly with our vision, and together, we can enhance our capacity to meet the evolving needs of the travel industry.”
