LEA Partners invests in international growth of Midoco Group
December 10th, 2019 Hilden, Karlsruhe - The technology investor LEA Partners has acquired a majority share in the Travel Tech group Midoco from the investment company Afinum. BID Equity and the three Midoco founders and managing partners Steffen Faradi, Marcus Haarmann and Jörg Hauschild will continue to hold significant stakes in Midoco.
Since its foundation in 2005, Midoco GmbH has developed into Germany's leading provider of mid-office software solutions for the travel industry. In 2018 alone, Midoco processed travel sales worth around 11 billion Euros. Users of the software now include international business and leisure travel agency chains, online travel agencies and dynamic tour operators. Midoco shows its strengths, especially in new distribution channels such as the IATA standard NDC. In addition to traditional distribution systems and GDS Midoco also connects to the new, mostly NDC-based distribution tools, which allow the direct sale of airline tickets and other components.
The product portfolio was perfectly complemented in 2018 by the acquisition of the Swiss Umbrella AG. With "Umbrella Faces", Umbrella enables the automatic synchronisation of traveller profile data across the various sales channels. The combination of Umbrella Faces and Midoco simplifies the efficient processing of bookings from traditional and new sales tools, especially for business travel agencies. In Germany, the UK and some other international markets, customers are already successfully using the entire Midoco Suite.
"We look forward to supporting and expanding the Midoco Group as it continues to grow. We see great potential here, especially internationally, both organically and as part of a selective buy & build strategy," says Christian Roth of LEA Partners.
"With LEA Partners, we have found the ideal partner for our further growth and an optimal constellation for the opportunities ahead," says Steffen Faradi, Managing Director of Midoco Holding GmbH. He is pleased to have BID Equity on board as well, "We can continue to rely on the well-established collaboration with the BID Equity team and gain the experience and expertise of LEA Partners".