BDO Transaction Services assists Travel Department

BDO Transaction Services were delighted to have provided vendor financial and tax due diligence services to Travel Department in advance of a significant investment by MML Capital Partners. The investment is expected to complete before the end of March 2018.

                  

Travel Department is Ireland’s leading tour operator for guided group holidays. The business has over 22 years’ experience of providing memorable tours to over 100 destinations worldwide, with almost 200 carefully crafted itineraries including cultural breaks, long haul adventures, city breaks and sun holidays. Travel Department will record revenue of over €40 million for 2017 and this investment by MML will help existing management, led by Sara Zimmerman to continue to drive significant growth.

The MML investment will be the tenth investment made from the MML Growth Capital Partners Ireland, a €125 million fund supported by Enterprise Ireland, AIB and a number of international institutional investors. The fund is dedicated to backing small and medium sized private businesses located on the island of Ireland.

The BDO team providing vendor due diligence services on the transaction was led by Rory O’Keeffe, Head of the firm’s Transaction Services practice who was supported by John Gilmor Gavin, M&A Tax Partner.

Sara Zimmerman, CEO commented: “We were impressed with BDO throughout the diligence process. They quickly understood how our data was structured and provided constructive feedback to ensure information could be presented effectively. They were approachable, supportive and certainly added value to the process.”