Averroes Capital completes the buyout of and growth capital investment in Journey Hospitality
Averroes Capital is delighted to announce its investment in Journey Hospitality, a provider of unique software solutions for the hotel and hospitality sector. Following the success of onejourney® - an all-in-one ecommerce platform for hotels - Journey will use the funding to advance product development and drive further market expansion.
Averroes Capital has invested alongside the founder and the management team who will continue to lead the business. As part of the investment, Averroes Capital will support Journey Hospitality in strengthening the executive team and scaling the sales and operational capabilities to support growth. Averroes Capital will also work with the business to further internationalise its customer base.
The buyout of Journey Hospitality marks the first investment by Averroes Capital, a London-based private equity investor.
Simon Rowan, Partner of Averroes Capital, said: “Journey Hospitality is a market leader in providing solutions to the hotel and hospitality sector and has created a unique software platform in onejourney® which will help hotel operators increase revenue whilst reducing costs. We are excited about our partnership with Simon Bullingham and his team who we will work closely with to help the business achieve its full potential. This first investment by Averroes Capital sets us up well to achieve our investment ambitions and growing the business”.
Journey’s founder and CEO, Simon Bullingham, said: “We are delighted to have selected Averroes Capital as our funding partner. The Averroes team has significant experience and success in supporting businesses such as ours to achieve their full potential through operational optimisation and internationalisation. We are looking forward to working closely with the Averroes team as we embark on a hugely exciting period for Journey.”
“We are excited about our partnership with Simon Bullingham and his team who we will work closely with to help the business achieve its full potential.”
About Averroes Capital
Averroes Capital invests £15m to £40m of equity into UK and Ireland headquartered businesses operating across a range of sectors, including – business services, industrials, IT & software, healthcare, education and consumer niches. It partners with ambitious management teams to build great businesses through a flexible investment approach to ensure each company has the support and capital to deliver their growth ambitions.
The investment team members who led the transaction were Simon Rowan, Frank Bulman, Jack Scott and Beatrice Carrara.
