Inside Travel Group: Leading the Management Buyout Backed by Piper and Cool Japan Fund
Deal News | Nov 04, 2024 | Piper Private Equity
Inside Travel Group (ITG), a prominent cultural adventure travel brand focusing on Asia, has successfully completed a management buyout backed by Piper Private Equity and Cool Japan Fund, a Japanese sovereign wealth fund. Founded by Simon King and Alastair Donnelly in 2000, ITG began as InsideJapan, offering unique experiences that capture the essence of Japan. The brand has since broadened its services to multiple Asian countries under the InsideAsia banner, offering exceptional customer service and authentic cultural engagement. With a forecasted growth in the Asian travel market, ITG anticipates their sales to rise significantly by 2024. The investment from Piper and Cool Japan Fund aims to reinforce ITG's leadership in Asian cultural travel, while expanding its market presence in the UK, US, and Australia. Piper's previous investments in the travel sector and the commitment to B Corp values align with ITG's customer-centric and sustainability-driven ethos. This partnership aims to leverage Cool Japan Fund's expertise to enhance ITG's value proposition and strengthen its cultural promotion endeavors globally.
Sectors
- Travel and Tourism
- Private Equity and Venture Capital
Geography
- United Kingdom – Inside Travel Group is based in the UK, and the company founders returned to establish their business there after extensive time in Japan.
- Japan – Cool Japan Fund, a Japanese sovereign wealth fund, is a key participant in the transaction, and InsideJapan is a significant brand under ITG, focusing on Japanese culture.
- Asia-Pacific – Inside Travel Group specializes in cultural adventure travel in various Asian countries, including Japan, South Korea, and others, making Asia-Pacific a relevant geography for their operations.
Industry
- Travel and Tourism – The acquisition, investment, and expansion of Inside Travel Group highlight its role in the travel and tourism sector, specifically as a leader in cultural adventure travel focusing on Asia.
- Private Equity and Venture Capital – Piper Private Equity's involvement in the ITG management buyout demonstrates activity within the private equity sector, which funds and supports business expansions and transformations.
Financials
- £65 million – Projected sales for Inside Travel Group in 2024, indicating a 33% growth from the previous year.
- £6.3 billion – Forecasted market size for travelers into Asia from the US, UK, and Australia by 2026.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Inside Travel Group | Target Company | Company | A leading Asia-focused cultural adventure travel brand founded in 2000, known for its deep cultural insights and exceptional customer service. |
| Piper Private Equity | Investor | Company | A private equity firm specializing in investing in and growing unique consumer brands, providing funding for ITG's management buyout. |
| Cool Japan Fund | Investor | Company | Japan's sovereign wealth fund dedicated to promoting Japanese culture globally, co-investing in ITG's management buyout. |
| Simon King and Alastair Donnelly | Co-founders of Inside Travel Group | People | Founders who established ITG with a focus on cultural travel experiences in Asia, and remain at the helm post-buyout. |
| Ian Simkins | Chairperson | People | Chairperson of ITG, previously CEO of Audley, contributing vast experience in brand and business growth. |
| Blandford Capital | Selling Company | Company | Former investor in ITG, exiting as part of the management buyout process. |