RUTHERFORD, N.J. — Northstar Travel Group, dad or mum firm of Travel Weekly and different journey trade business-to-business media and occasion manufacturers, has signed a definitive settlement to be acquired by JTB Corp., a Japanese journey options supplier, from EagleTree Capital and its co-investors.
As a part of the transaction, Northstar will function as an entirely owned, impartial subsidiary of JTB and can proceed to be led by its current administration group, together with CEO Jason Young. Terms of the transaction weren’t disclosed.
Northstar is a number one international media, occasions and knowledge providers firm that focuses solely on journey.
Other Northstar manufacturers embrace Business Travel News, TravelAge West, TravelPulse, Phocuswright, the Americas Lodging Investment Summit, Agent@Home, Travel42, Axus, Meetings & Conventions, Meeting News and The Meetings Show.
Through its platforms, Northstar connects a world viewers of greater than 1 million skilled journey consumers with greater than 1,500 provider prospects searching for to interact them.
“We are thrilled to partner with JTB as we enter the next phase of our company’s incredible history,” mentioned Young. “Our shared commitment to the travel industry, cultural alignment and collective expertise — combined with the opportunity to accelerate Northstar’s geographic expansion in the Asia Pacific region — will enhance our ability to deliver value to our audiences and customers as we advance our mission.”
The transaction advances JTB’s development technique, which incorporates geographic growth and focused investments in occasions, data providers, market intelligence and different strategic strains of enterprise related to the journey trade.
“Today’s announcement marks the beginning of an exciting new chapter for JTB Group,” mentioned Eijiro Yamakita, president and CEO of JTB Group. “Northstar brings outstanding expertise and fresh perspectives that perfectly align with our strategic vision. By operating Northstar as an independent subsidiary, we preserve their neutral market position while creating a powerful platform for delivering superior customer experiences. We are confident this structure will unlock significant growth potential while contributing to the innovation and future growth of the travel industry.”
Co-managing associate Anup Bagaria and senior associate Michael Struble of EagleTree Capital commented, “It has been an honor to partner with the Northstar team, including chairman and former CEO Tom Kemp and current CEO Jason Young, and to witness the company’s impressive transformation over the last few years. We are confident Northstar is well positioned for future success and look forward to watching it thrive as part of JTB.”
BrightTower served as monetary advisor and Jones Day served as authorized counsel to Northstar. SMBC Nikko served as monetary advisor and Venable LLP and Mori Hamada & Matsumoto served as authorized counsel to JTB.
Closing of the transaction is predicted in September, topic to customary closing circumstances, together with regulatory approvals.