PRIVATE investment firm Battery Ventures has acquired IHS, parent company of hotel group Worldhotels and CRS provider Trust International.
All of the group’s shares were bought over by Battery Ventures from London-based Kings Park Capital.
A media release issued by Trust International said: “The transaction will enable IHS and its brands to build upon its customer-centric focus, drive organic growth, and pursue acquisition opportunities.”
Besides Worldhotels and Trust International, IHS also operates business units Nexus World Services, a sales management solutions provider, and IFH Institute for Hospitality Management, a training and benchmarking specialist.
In conjunction with the investment, Battery executive in residence, Steve Rowley, joins IHS as chairman and CEO. Dave Tabors and Morad Elhafed, also from Battery, will join IHS’ board of directors.
Rowley said: “Having Battery as a strategic and financial partner will help accelerate growth and continue to deliver high-quality, innovative solutions to customers worldwide. This is a large and strategic market and I look forward to working with the team to fuel both organic growth and to aggressively pursue acquisitions to expand the value we can deliver to customers.”
