MMGY Global Continues Expansion of Tourism Support Services
MMGY Global announced today the acquisition of NEXTFactor Enterprises Inc., a strategic planning and consulting company focused on the travel and tourism industry. The Vancouver-based company is MMGY Global’s first Canadian acquisition and represents a new service offering for the world’s largest integrated marketing communications company dedicated to travel and hospitality.
As part of the acquisition, MMGY Global will now provide its clients worldwide with enhanced strategic planning and consulting services – an area of focus where the company plans to connect its research and integrated services. NEXTFactor is well-known in the industry for its research- and engagement-based strategy offerings including destination master planning, organization reviews and strategic planning. The firm is also the creator and exclusive provider of Destinations International’s DestinationNEXT planning product and Futures Study for destination marketing organizations. The 2019 edition of the Futures Study is being released during Destinations International’s (DI) annual conference this week.
As part of the MMGY Global family, NEXTFactor’s name will shift to MMGY NextFactor. Founder Paul Ouimet and his team will remain an integral part of the business.
“From the very beginning, our organization has believed that our services can benefit the entire tourism industry by supporting the visionary growth for travel organizations and destinations,” said Paul Ouimet, president and founder of NEXTFactor. “Our mission is very much aligned with that of MMGY Global’s: to inspire people to go places. Now, we are able to continue this focus with the support and backing of a global, world-class organization.”
“The addition of MMGY NextFactor enables us to continue honing our holistic approach for travel entities around the world, including community development and economic strategy, infrastructure planning and destination branding,” said Clayton Reid, CEO of MMGY Global. “We are excited to add renowned industry thought leaders like Paul and his team as we continue to act on our values mission, innovate in the tourism space and grow our capabilities and geographic footprint.”
MMGY Global is a $60 million company with more than 400 employees and 13 global offices. NEXTFactor is the seventh acquisition by MMGY Global since private equity firm Peninsula Capital Partners (peninsulafunds.com) made a significant equity investment in the company in 2016. This most recent investment further strengthens the company’s aggressive acquisition strategy, which includes global expansion and a commitment to integration across all travel marketing channels. Prior acquisitions included Digital Spring, DK Shifflet & Associates, Grifco and Ophir PR, Hills Balfour, Myriad Marketing and Nancy J. Friedman Public Relations.
MMGY Global was advised on the transaction by Foley & Lardner, LLP on legal matters in the U.S. and by Dentons Canada LLP on legal matters in Canada. NEXTFactor was advised on the transaction by Sager Legal Advisors LLP and Doug Jung, CPA.