TripADeal partners with BGH as it gears up for growth

TripADeal

TripADeal is delighted to announce that it has partnered with investor BGH Capital (BGH) to  assist it to take advantage of a number of growth opportunities, as travellers increasingly  turn to online travel as the industry gears up for a strong return post COVID and border  lockdowns.

After navigating the unprecedented COVID environment, the proudly Byron Bay owned and  operated online travel company, is confident about the future for Australian tourism having  identified several exciting growth opportunities that it believes will assist it emerge from the pandemic stronger and more responsive to the changing travel needs of its customers and  business partners.

Co-founding CEO’s Norm Black and Richard Johnston said the investment is great news for TripADeal customers:

“Over the past two-years several firms have knocked on our door eager to invest in  TripADeal. BGH approached us late last year, well before COVID, and we knew they were  the ideal fit. Working with them through COVID has only reinforced the common culture  and respect we have always looked for but never found in the past.

“BGH has significant experience in tourism and their partners share our vision for growth as  the travel industry takes off post COVID-19. We believe BGH will help take TripADeal to the  next level.”

While TripADeal’s revenue has been growing by over 40% per annum, Covid hit the entire  industry hard. As an online business we were not weighed down by expensive bricks-and-mortar stores, allowing us the agility to pivot our resources to supporting our customers and  travellers stranded across the world.

“While the travel industry was the first industry affected, we strongly believe it will be one  of the first industries back. TripADeal is now ready to hit the go button as soon as  international travel resumes.”

BGH Founding Partner Ben Gray said TripADeal’s superior online business model allows  enormous growth opportunities, while avoiding the cost structures of more traditional  bricks-and-mortar operations:

“We have always been attracted to TripADeal’s position as an online travel agent. The disruption posed by COVID-19 will ensure they continue to benefit from strong industry  tailwinds and the bricks-and-mortar shift to online.

“The company has a very scalable business model that is supported by a well-developed  technology platform. It has grown extremely fast over the last 5-years, winning multiple  industry awards. We are excited to partner with Rich and Norm on TripADeal’s next wave of  growth.”

About TripADeal  

TripADeal is an online travel agent offering Australian and New Zealand customers travel  tours to every continent including Antarctica, sending 60,000+ travellers around the world  every year. TripADeal was founded in 2011 by Norm Black and Richard Johnston, and is  based in Byron Bay, Australia. TripADeal was voted ‘Best Online Travel Agency’ by AFTA, the  Australian Federation of Travel Agents, in 2017 and topped the Financial Review Fast 100 list  for 2016 and 2017.

About BGH Capital 

BGH was established in 2017 with the objective of creating the pre-eminent private equity  firm in Australia and New Zealand. BGH is headquartered in Melbourne, Australia and is an  independent firm, owned and managed by its founding partners. BGH Capital Fund I reached  a final close of approximately A$2.6 billion in May 2018, making it the largest private equity  fund focused on Australia and New Zealand that is actively deploying capital. BGH aims to  provide its portfolio companies with the capital they need to grow, as well as analytical,  strategic and operational resources to help them realise their full potential.

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