Traveljigsaw benefit from refinancing following impressive growth
ISIS are delighted to announce that Traveljigsaw, the Manchester-based online travel agent ("OTA") specialising in car rentals, has benefited from a multi-million pound refinancing. This follows strong trading levels since our initial investment in the company in June 2008.
Yorkshire Bank is providing the additional funding, allowing ISIS to realise the cost of our investment in Traveljigsaw and provide the company with additional facilities for growth.
ISIS completed the initial management buyout of Traveljigsaw in June 2008. The investment allowed the ex-Airtours team who founded the business four years earlier to take control of the company and provided an exit for the original investor, Mytravel founder David Crossland who provided the initial start-up funding.
Traveljigsaw is now one of Europe's largest independent car rental agents, offering customers a single source for car hire via an online booking service and a UK-based multi-lingual call centre. The business has relationships with all major car rental operators and offers car hire to customers in 27 different countries, to 90 destinations worldwide.
Adam Holloway, who led the refinancing of Traveljigsaw on behalf of ISIS comments: "It is really pleasing to have returned the cost of our investment back to our investors in only 18 months. The management team have done a fantastic job in growing and developing the business during a severe economic downturn."
Published 19 January 2010