Thoma Bravo Spends $930M For TravelClick


Thoma Bravo LLC is buying TravelClick for $930 million from Genstar Capital Management LLC and Bain Capital Ventures.

TravelClick provides cloud-based software services to the hospitality industry, including Hilton Hotel & Resorts, Crown Hotels Australia, Loews Hotel & Resorts, and the Bryant Park Hotel.

“The hospitality technology market is becoming increasingly dynamic and complex, with customers requiring better analytical and revenue-enhancing tools,” say A.J. Rohde, principal at Thoma Bravo. 

San Francisco-based Thoma Bravo is a private equity firm that focuses on investing in software and technology services. The firm currently manages funds with about $4 billion in equity commitments. In Feburary, the firm agreed to buy Global Healthcare Exchange LLC, which operates an electronic trading exchange and provides supply-chain services to the surgical market. In January, Thoma Bravo bought Meucci Solutions NV, which provides mobile fraud detection services, to add to portfolio company Keynote Systems Inc. 

Genstar, headquartered in San Francisco, is a PE firm with about $3 billion in committed capital under management. Bain Capital Ventures, based in Boston, is the venture arm within Bain Capital and has about $70 billion in assets under management. Credit Suisse served as Thoma Bravo's financial adviser, while Kirkland & Ellis LLP provided legal advice.

Genstar and Bain Capital Ventures bought the company in 2007. Since then, TravelClick has more than doubled revenue and made two add on acquisitions, Rubicon and EZYield.

Evercore acted as Genstar and TravelClick's financial adviser, while Ropes & Gray provided legal advice. 

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