BID Equity sells majority stake in the leading German travel technology provider Midoco.
After very successful years of organic growth, continued internationalization, and the acquisition of Umbrella AG in Switzerland, BID Equity Investment II ("BID Equity") sells a majority stake in Midoco Holding together with its partner Afinum Siebte Beteiligungsgesellschaft ("Afinum") GmbH ("Midoco") to LEA Partners. BID Equity continues to hold a minority stake to support the group's continued growth.
Since it was founded in 2005, Midoco GmbH has developed into Germany's leading provider of mid-office software solutions for the travel industry. In 2018 alone, travel sales worth 11 billion euros were processed with the SaaS solution from Midoco. The software users now include international travel agency chains in the areas of business and leisure travel, online travel agencies and dynamic tour operators. The product portfolio was perfectly complemented in 2018 by the acquisition of Swiss Umbrella AG. With "Umbrella Faces", Umbrella enables the automatic synchronization of traveler 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 a few others In international markets, customers are already successfully using the entire Midoco Suite.
The Midoco management team will continue to pursue its strategy of accelerated internationalization and offering an even more powerful, integrated product range for the travel market. "We still have a lot to do in the near future, we can continue to rely on the fruitful collaboration with the BID Equity team and gain the experience of LEA Partners on top", says Steffen Faradi, Managing Director of Midoco Holding GmbH.
