Travers Smith corporate partner Paul Dolman has advised ISIS Equity Partners and Management on the sale of a majority stake in TravelJigsaw Holdings Limited ("TravelJigsaw"), the multinational car hire reservation service, to a subsidiary of Priceline.com, Inc., for an undisclosed sum. Management will retain a minority stake in the business and continue to manage TravelJigsaw´s operations.
Established in 2004, TravelJigsaw is the fastest growing online car rental agency in the world. It offers car hire services in more than 4,000 locations in 80 countries in North America, South & Central America, Europe, Asia, Australia, the Caribbean, Africa and the Middle East.
Priceline.com, Inc., which is listed on Nasdaq, provides online travel services in 34 languages in over 94 countries.
Travers Smith acted on the management buy-out of Traveljigsaw Limited to a newco backed by ISIS Equity Partners in June 2008.
The Travers Smith team included tax partner Kathleen Russ, corporate associate Will Yates and banking associate Emma Stacey.