Investment to propel the travel marketing and communications leader's global growth strategy
KANSAS CITY, Mo., Oct. 30, 2023 /PRNewswire/ -- MMGY Global, a leading integrated marketing firm specializing in travel, tourism and hospitality, announced today that investment funds managed by private equity firm EagleTree Capital have acquired the company from previous partner Peninsula Capital Partners LLC and other shareholders, including current and former employees and the original founders of the business.
MMGY Global's management team will remain in place, and CEO Katie Briscoe will continue to lead the company. Executive Chairman and former CEO Clayton Reid will continue to serve on the Board of Directors. EagleTree is partnering on this transaction with Investment Management Corporation of Ontario (IMCO), and several of EagleTree's fund investors will be co-investing alongside them, including Northwestern Mutual. Terms of the transaction were not disclosed.
EagleTree has decades of experience investing in marketing and travel-related businesses, including Northstar Travel Group, the leading B2B marketing services company dedicated to the global travel and meetings industries, and leading events management company PRA.
"Our partnership with EagleTree will allow the company to embark on the next chapter of our global strategy, broadening our geographic reach, cultivating top-notch talent, and designing innovative products and services for our clients like never before," said Briscoe. "EagleTree's experience with marketing services and travel companies complements MMGY Global and aligns with our commitment to delivering industry-leading marketing services on a global scale to many of the pre-eminent destinations and companies in the travel sector."
"We are deeply impressed with MMGY Global's data-driven approach to travel marketing and PR," said EagleTree Senior Partner Michael Struble. "Katie, Clayton and the entire team have built an impressive platform which is helping evolve the face of travel. We look forward to working with them to help expand the business to its full, global potential."
"MMGY Global sits at the cross section of EagleTree's investment focus on marketing services and travel," added EagleTree Co-Managing Partner Anup Bagaria. "We are excited about being able to draw on multiple past successful investments in both marketing services and travel to add value and accelerate the company's growth."
With the support of Peninsula Capital Partners, MMGY Global has quadrupled in size since 2016 – completing 11 acquisitions and attracting several high-profile clients such as industry leaders Visit California, Costa Rica Tourism, Pure Michigan, Singapore Airlines, Windstar Cruises and Brand USA. Today the company has more than 600 employees located in 14 offices worldwide.
"Over the past seven years, MMGY Global has transformed the world of travel marketing," said Reid. "The entire team and I are thankful for the support of Peninsula Capital Partners and tremendously grateful for their belief in us."
MMGY Global was advised on the transaction by BrightTower, a New York City headquartered investment banking and M&A advisory services firm. Foley served as an adviser to MMGY Global on legal matters, PwC on financial matters and RSM on tax matters. EagleTree was advised on the transaction by Jones Day on legal matters and by Alvarez & Marsal on accounting and tax matters.
About MMGY Global
MMGY Global is the world's leading integrated marketing firm specializing in the travel, hospitality and entertainment industries. With operating brands across the world, the award-winning organization maintains a global communications practice in all marketing channels, serving many of the world's premier travel and tourism brands. As a company dedicated to the travel industry, MMGY Global strives to create a connected, inclusive and peaceful world by promoting travel as a cultural bridge of understanding. For more information, visit mmgyglobal.com.
About EagleTree Capital
EagleTree Capital is a leading New York-based middle-market private equity firm, with over $5.6 billion of assets under management, that has completed over 40 private equity investments and over 95 add-on transactions over the past 20+ years. EagleTree primarily invests in North America in the following sectors: media and business services, consumer, and water and specialty industries. For more information, visit www.eagletree.com or find EagleTree on LinkedIn.
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