Travel Department is Ireland’s leading tour operator for guided group holidays. The business has over 22 years of experience providing memorable tours to over 100 destinations worldwide, with almost 200 carefully crafted itineraries including cultural breaks, long haul adventures, city breaks and sun holidays. Travel Department will record revenue of over €40 million for 2017 and this investment by MML Ireland will help existing management, led by Sara Zimmerman, to continue to drive significant growth.
The MML Ireland investment will be the tenth investment made from the MML Growth Capital Partners Ireland, a €125 million fund supported by Enterprise Ireland, AIB and a number of international institutional investors. The fund is dedicated to backing small and medium sized private businesses located on the island of Ireland.
Sara Zimmerman, CEO, commented:
“We are delighted to have found an experienced Irish investment partner in MML Ireland. The MML Ireland team not only shares our vision for the future of the business, but recognises the importance of continuing to put the customer at the heart of everything we do. We are also delighted that Bob Haugh, the founder of Travel Department, will remain an investor in the business.”
Neil McGowan, who led the deal for MML Ireland, said:
“MML Ireland is delighted to partner with Sara and her team in Travel Department. We are backing a market leading business led by an experienced team with a very strong understanding of the market and their customers, and with significant ambitions for the future.”