International legal practice Osborne Clarke has advised the management team of Travel Department, a leading tour operator for guided group holidays, on a significant investment by MML Growth Capital Partners Ireland. The investment is expected to complete before the end of March 2018, subject to regulatory approval.
Travel Department will record revenue of over €40 million for 2017 and this investment by MML will help existing management, led by Sara Zimmerman to continue to drive significant growth. The business has over 22 years’ experience of providing tours to over 100 destinations worldwide.
Osborne Clarke has a strong presence in the UK private equity market and this latest deal is one of a number of successful transactions the private equity team has worked on in the travel sector, including the management buyout of Class Tours in October 2017.