An unspecified stake in travel software specialist Peakwork has been acquired by Brockhaus Private Equity, an independent growth investor focusing on innovation and technology leaders.
Dusseldorf-based Peakwork will use a new ownership structure to enhance its proprietary technology and press ahead with its global expansion.
The cross-industry fund Brockhaus Private Equity III acquired the shareholding via a capital increase and the purchase of shares from existing shareholders, who will continue to hold a majority stake in the firm.
Peakwork CEO Ralf Usbeck said: “As well as taking our software to the next level of automation, we are currently on the brink of entering further new markets in Asia.
“At the same time, we are greatly strengthening our partner platform through the addition of global travel and hospitality offerings.
“The investment by Brockhaus Private Equity will help us gain additional speed, just as our first investor, Tui Ventures, has enabled us to grow more quickly.“
Tui Group chief information officer Frank Rosenberger said: “Our shared role as committed long-term investors in Peakwork provides us with excellent opportunities to accelerate our growth.
“Peakwork’s groundbreaking IT solutions and its highly scalable business model are helping Tui expand into new markets, such as China or Brazil. In addition, they enable us to develop a digital framework for tourism that will benefit the entire industry.“
Marco Brockhaus, founder and CEO of Brockhaus Private Equity, said: “Peakwork holds a special place among Germany’s fast growing technology firms. The company offers a disruptive and highly scalable platform in an extremely dynamic market.
“The situation is reminiscent, among others, of Wirecard and 360T, two extraordinary success stories we helped to shape as an investor. Our investment in Peakwork seeks to continue in this tradition.”
The software specialist provides a high performance platform for travel distribution and claims to lead the way in digitalising the global tourism sector with overseas representations in the US, the UK and Singapore
Its Player-Hub-Technology, allows for travel offerings – ranging from packages to individual hotel offers and flights – to be distributed online and be made available to consumers in real time via all sales channels, such as Google, Kayak, Tripadvisor and Facebook.