Genstar has more than trebled its investment in TravelClick, selling the hospitality software and services firm this week for USD930m. The buyer was another private equity company, Thoma Bravo.
Genstar bought TravelClick in 2007 for a reported USD275m, which at the time was regarded as a high price to pay. But Genstar proved the doubters wrong and made a huge profit. Will Thoma Bravo do the same?
The transaction is due to close by June 30.