LONDON, 9 August 2017: JacTravel’s CEO, Terry Williamson, has announced that he will be leaving JacTravel following the completion of the sale of the company to Webjet.
The sale is scheduled to be completed officially at the end of this month.
Webjet Limited announce, 2 August, that it had entered into an agreement to acquire JacTravel.
Once the sale is completed JacTravel will join Sunhotels, Lots of Hotels and FIT Ruums in its B2B division, WebBeds.
The UKP200 million acquisition will propel WebBeds to become one of the world’s largest B2B travel providers. Webjet is acquiring JacTravel from Vitruvian Partners and its management team, which will retain a shareholding in the enlarged group.
London-based JacTravel is among the largest independent B2B platforms in Europe. The company operates two distinct brands, JacTravel and totalstay.com, both of which will now become part of the WebBeds business.
During his CEO tenure at JacTravel that started in 2009, the company achieved compound annual growth (CAGR) in revenue of over 26% and CAGR profits growth of 30%.
He led the sale to its current owners, Vitruvian Partners in 2014.
Replacing him will be Peter Clements, JacTravel’s deputy CEO. He joined JacTravel following its acquisition of the TotalStay Group in 2015, a company he founded sixteen years earlier.
JacTravel won a Queen’s Award for Enterprise in 2013 and has won several industry awards for excellence and customer service over the last few years. It has also featured consistently in surveys of high growth companies.
Prior to joining JacTravel, Williamson was CEO at the educational and student travel company – School Travel Group.