The $130mn-revenue, private equity-owned Northstar Travel Group, of the US, is being acquired by JTB Corp, described as “one of Japan’s leading travel solutions providers”. The transaction is scheduled to close in September. The price has not been disclosed but is believed to be in the region of $350mn.
It is said that the media and events group (which has been owned by EagleTree Partners for nine years) will continue to operate as a wholly-owned, independent subsidiary. Northstar’s major brands include: Travel Weekly (in the US, across Asia and in China), PhoCusWright (conferences), Inntopia (software), The Meetings Show, Travel Age West and Business Travel News.
It has been believed that previous attempts to sell the long-established, market-leading Northstar (at a suggested $400-500mn price) had been hampered by the continuing 10-15% of its revenue from print ads, and also some weak growth. But the core strength of the company is the 40-50% of revenue generated by its growing events portfolio.
Outside the US, the company is believed to be facing increasing competition from the UK-based Jacobs Media (publisher of Travel Weekly in the UK) whose owner, former travel entrepreneur Clive Jacobs, was last year joined as deputy chair and shareholder by ex Tarsus CEO Douglas Emslie. In the US, Northstar’s principal rival is another independent, Skift.
