Comtec in management buyout

RJD Partners (“RJD”), a leading UK middle market private equity firm, has led the management buyout of Comtec, an award-winning supplier of software solutions to the leisure travel industry.

Based in Cwmbran, Wales Comtec is a market-leading provider of technology solutions to the travel industry, supplying software capable of managing front, mid and back office functions. Uniquely amongst its peer group, Comtec supplies systems and services to tour operators, travel agents and providers of travel product. The Company’s client base includes many of the major players in the sector including Tui, Thomas Cook, Travelsphere and Vacation.com.

Frank Bulman of RJD Partners said: “We are delighted to have the opportunity to support the managers of Comtec. They have built an excellent and innovative business, with a strong emphasis on customer service and client retention, and we look forward to working with them to realise the Company’s full potential.”

The business was started in 1995 by Simon Powell, CEO, and his co-founder Dominic Twitchin and launched with a software product focused on allowing travel agents to access tour operator product from one source, rather than having to contact each tour operator separately.

Since 1995, Comtec has continued to develop its product and service capabilities and now has three industry leading product platforms Travelconnect (for travel agents), Travelink (for tour operators) and Travelgateway (for travel product suppliers) servicing clients in the UK, US and Europe. The Company has delivered very strong annual growth in recent years and now has over 120 employees servicing clients globally.

Simon Powell, Chief Executive of Comtec, said: “This is a very exciting day for Comtec; we have ambitious plans for future growth, both in the UK and overseas, and I am confident that RJD share our vision for the Company, and are the best partners to help us achieve our goals for the business.”

Andy Moore, the Clearwater Corporate Finance Partner who led Comtec’s advisory team, commented: “We feel that RJD Partners is the most suitable partner to support the Comtec management’s business plan; together, we structured a deal which will help the management achieve greater growth and underpin Comtec’s future success.”

The MBO has been financed through a combination of management reinvestment, funds managed by RJD and banking facilities provided by HSBC. The MBO is the fifth investment by RJD Partners through the RJD Private Equity Fund II.

For further information call +44 (0)1633 627500 or email info@comtec-group.com

Comtec Corporate

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