Visit Group – a market-leading Nordic-based hospitality and travel software company – recently announced more than €100 million in strategic growth investment from PSG Equity (“PSG”), a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth. PSG is acquiring a majority stake in the company.
Based in Gothenburg, Sweden, Visit Group is a market leader in the Nordics within hospitality and travel technology, providing collaborative commerce software to in-destination experience vendors, including lodgings, day tours and attractions, mountain resorts, ferry operators, amusement parks, activity vendors, etc. As of August 2023, the company serves over 2,200 customers in over 25 countries. Visit Group’s multiple software solutions offer a unique ecosystem that helps hospitality and travel providers package, sell, distribute, and deliver excellent guest experiences.
The deal marks PSG’s first platform investment in Sweden and Norway and its twenty-fourth in Europe. Under the terms of the investment, PSG will acquire shares in Visit Group from Standout Capital, a leading Nordic technology investor, and other minority shareholders. At the same time, the founder and management will remain significant owners.
Houlihan Lokey acted as financial advisor to PSG Equity, with MCF Corporate Finance as Visit Group’s financial advisor.
KEY QUOTES:
“As a product-led business with high ambitions to make a real difference in the development of the hospitality industry, we believe that we have found the right partner for both continuing to strengthen our offer, and to accelerate our growth in and outside the Nordics. I believe that we will get the best of both worlds with our product building DNA and PSG’s experience in areas like M&A and growth operations.”
– James Dixon, CEO of Visit Group
“We’ve been in dialogues with several potential international partners for the next step in our growth journey. During this process, PSG has demonstrated some of the best understanding for what we are building, and we share the vision of the digital ecosystem for the hospitality industry. From the start, our customer-centric approach to innovation and our focus on building a scalable business with a good balance between growth and profitability have been our keys to success, and we aim to hang on to those values going forward.”
– Magnus Emilson, founder and Executive Chairman of Visit Group
“We’ve been closely monitoring this space for some time and have been impressed by Visit Group’s unique value proposition across the Nordics, underpinned by strong network effects which help enhance connectivity and synergies among all stakeholders in the hospitality ecosystem. We’re delighted to partner with Magnus and the team, bringing our sector expertise and experience to support them in achieving their mission of becoming one of the go-to software providers in European hospitality and travel.”
– Edward Hughes, Managing Director at PSG
