Private equity firm Abry Partners has acquired travel services company Direct Travel from Silver Oak Services Partners LLC for an undisclosed amount.
Direct Travel, based in Denver Colorado, provides travel booking for corporate accounts. The target manages corporate travel accounts, assists with meetings and event production, and helps with vacation packages.
Direct Travel has made 12 acquisitions since it was acquired by Silver Oak in 2011, including travel agency Hobson Travel and event management and marketing agency Creative Group, both announced in 2015.
There have been a handful of travel related deals recently, including Expedia Inc.’s (Nasdaq: EXPE) purchase of HomeAway Inc. (Nasdaq: AWAY); Sabre Corp’s (Nasdaq: SABR) acquisition of Abacus International; and TA Associates’ investment in Plusgrade.
Thoma Bravo won Mergers & Acquisitions’ M&A Mid-Market Deal of the Year Award for its purchase of TravelClick for $930 million in 2014.
William Blair and Kirkland & Ellis LLP advised Silver Oak and Direct Travel.