TLT advises Bristol-based TravelLocal on merger with German firm trip.me
UK law firm TLT has advised TravelLocal, the global tailor-made holidays platform, on its merger with Berlin-based trip.me to create a global online marketplace for tailor-made travel as international travel restrictions continue to ease and demand for holiday and travel services rebound strongly.
The TLT team helped TravelLocal to prepare for and execute this next important stage of its growth journey following the pandemic, after supporting the company with a significant VC investment in 2019.
TravelLocal and trip.me connect customers from around the world with trusted local experts in particular holiday destinations, in order to provide a bespoke travel advice service for personalised holidays. The merged business, which offers holidays to almost 100 destinations and has customers from over 100 countries worldwide, will continue to focus on tailor-made private itineraries for mid- to high-end clients.
Along with the merger, TLT advised the business on a £2.5m Series A extension led by existing investors Active Partners and Gresham House Ventures to help fund its next phase of growth.
The TLT team was led by legal director Dan Whitewood alongside solicitor Matthew Howells and trainee solicitor Kiran Khanna.
Mark Hudson, Executive Chairman and Co-Founder at TravelLocal, says: “TravelLocal and trip.me were both seeing remarkable growth pre-pandemic thanks to their ability to respond to increasing demand for authentic and personalised experiences with input from local experts on the ground. As restrictions ease and international travel takes off again, we are excited to be able to offer an extended client base a new range of destinations to enjoy.
“We are grateful for TLT’s support throughout this pivotal time in our business’ evolution and indeed that of the wider industry as travel rebounds. The firm’s early-stage involvement and ability to leverage its international network by working closely and seamlessly with corresponding legal partners in Germany to provide on-the-ground insight, was crucial to the success of the merger.”
Dan Whitewood, Corporate Legal Director at TLT, adds: “It is great to see such an encouraging transformation already within the travel industry, which is central to the global economic recovery. TravelLocal and trip.me’s forward-looking, ethical and sustainable approach to travel positions them as pioneers in their field and we look forward to seeing them emerge from the pandemic even stronger.
“The merger reflects an active M&A and PE market in the travel and tourism sector. With Covid restrictions easing and the economy unlocking, there will be plenty of investment appetite as competitive companies with unique offerings make up for lost time and look to accelerate their growth.”