“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.”

Sara Zimmerman, CEO, Travel Department

Travel Department

traveldepartment.com
Partnered with management to support the MBO of the business from the founding shareholder.

The business

Travel Department is Ireland's leading tour operator for guided group holidays.

The deal

Established over 25 years ago, Travel Department offers c.130 tours across 38 countries from departure points in Ireland, Northern Ireland, Scotland and southwest England. The business has a very strong brand with high levels of repeat bookings and strong cash generation. MML Ireland supported the CEO, Sara Zimmerman, to lead an MBO and create a significant equity pot for the broader management team. Travel Department's founder, Bob Haugh, also reinvested a material amount in the deal alongside MML Ireland and management. Since investing, MML Ireland has helped implement a new board structure with a new Chairperson, recruit a new CFO, and is currently working with the management team to navigate through the impact of Covid-19 on the business.

Fund
MML Ireland Fund I
Region
Republic of Ireland
Deal Status
Current
Sector
Travel & Leisure

Related news

MML Ireland backs Travel Department
Travel Department is delighted to announce that MML Ireland has agreed to make a significant investment into the business. The investment is expected to complete before the end of March 2018.

Associated deal team

Neil McGowan

Partner and Co-Head of Investments

Stephen Minogue

Investment Director

Christopher Walsh

Investment Director

MML investor portal logins

For investors in MML Ireland Fund I, MML Ireland Fund II & MML Fund VI

For investors in MML Fund VII