16 Oct Progress Partners Advises travAlliancemedia on Its Sale to Northstar Travel Group
travAlliancemedia is a leading marketing services, digital media, event and information company serving the retail travel community in North America
BOSTON & NEW YORK–(BUSINESS WIRE)–Progress Partners, a Boston and New York-based M&A advisory firm, is pleased to announce that it has advised travAlliancemedia on its sale to Northstar Travel Group, a portfolio company of EagleTree Capital. The travAlliancemedia content and technology platform will extend Northstar’s reach to the travel advisory market at a time when consumers are looking for more curated travel experiences giving travel suppliers strategic access to a reemerging sales channel.
“The addition of travAlliancemedia’s well-known brands serving the retail, home-based and independent travel advisory market complement Northstar’s leadership brands including Travel Weekly US and TravelAge West serving the retail travel industry,” said Thomas Kemp, Chairman & CEO of Northstar Travel Group. “The acquisition provides Northstar with an unparalleled portfolio of marketing services, online media, events, and marketing tools serving the travel advisory community and connecting travel suppliers and destinations to this audience,” said Kemp.
The M&A advisory team from Progress Partners, which acted as financial advisor to travAlliancemedia in the transaction, was led by Senior Managing Director Chris Legg and Managing Director Chris Karl. “The attention to detail, responsiveness, and thorough execution by Progress Partners was exemplary throughout the process,” said Mark Murphy, founder and CEO of travAlliancemedia. Chris Legg reflected on the growth potential from the transaction, “The combination of these two companies highlights the importance of the travel advisory market as an important conduit to an emerging class of travel enthusiasts. We are happy for the travAlliance team to join forces with the talented team at Northstar.”
About Northstar Travel Group
Northstar Travel Group is the leading B-to-B information and marketing solutions company serving all segments of the travel industry including leisure/retail, corporate/business travel, corporate and sports meetings, incentives, hospitality, and travel technology.
About Progress Partners
Progress Partners is a Boston and New York-based boutique M&A investment bank that works with technology companies, with sector focus in vertical categories including martech, adtech, fintech, ecommerce, and traveltech. Since 2002, we have aimed to work with exceptional entrepreneurial teams on solutions for growth. Our firm serves buyers and sellers of high growth companies to complete M&A transactions, raise debt or equity capital, as well as, develop and implement strategic growth plans. Securities offered by Applied Capital, LLC, member of FINRA and SIPC. Visit www.progresspartners.com for more information.