Greenhill Capital Partners Europe LLP Announces the Completion of an Investment in the Travel Entertainment Group Ltd.
Greenhill Capital Partners Europe LLP (“GCPE”) and the shareholders of the Travel Entertainment Group Ltd (“TEG”) are pleased to announce the completion of an investment in TEG by GCPE. As a consequence of this investment, GCPE will become a significant minority shareholder in TEG, with the existing shareholders and management remaining as majority shareholders.
TEG was founded in 1997 by Mark Hogg, the current chief executive of the business, and is one of the world’s leading providers of in-flight entertainment to the airline industry, as well as satellite and pre-recorded entertainment to the passenger cruise industry. TEG is headquartered in the UK and supports its global client base through a worldwide office network. Mark Hogg will remain as CEO following the transaction.
Mark Hogg, chief executive of TEG, said:
“I am very pleased to welcome GCPE as an investor in the business. GPCE is an ideal partner and will allow us to accelerate and build on our recent rapid growth and success.”
Adam Maidment, Principal of GCPE, said:
“Mark and his team have built a very successful business over the past decade and we are delighted to have the opportunity to support them in the continued growth and development of the business.”
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GCPE makes private equity and equity-related investments in mid-market companies located primarily in the United Kingdom and Europe. It generally makes controlling or influential minority investments in companies with enterprise values of £25 million to £250 million. GCPE is an affiliate of Greenhill & Co., Inc. (NYSE: GHL), an independent global investment banking firm with offices in New York, London, Frankfurt, Toronto, Dallas and San Francisco. GCPE manages a fund of £191 million, of which approximately 35% comes from Greenhill and its employees. TEG is the third investment from the GCPE fund.