MMGY Global Announces Investment from Peninsula Capital Private Equity Firm to Provide Growth Capital
Kansas City, MO (February 17, 2016) – The world’s largest integrated travel marketing company, MMGY Global, announced today that Peninsula Capital Partners, a private equity firm with experience in the global travel industry, and Fine Equity Partners, have made a significant equity investment to support MMGY’s aggressive acquisition strategy, as well as new areas of international expansion.
MMGY’s existing management team will continue to operate the firm, and Clayton Reid will remain in his role as CEO. MMGY’s founding partners, Don Montague and Peter Yesawich, will continue to serve as senior advisors.
The transaction will allow MMGY partners to monetize a portion of their equity and align with an institutional partner, which affords the firm valuable expertise and access to growth capital. The Peninsula investment will enable a business plan that more than doubles the size of the company by 2020.
“It really is the best of both worlds,” said Clayton Reid, CEO of MMGY Global. “Our partnership with Peninsula opens up an entirely new set of opportunities for us to grow and invest in ways that would otherwise not be possible, while the company’s partners can enjoy the financial benefits of decades of hard work and also remain invested in the firm.”
Karl LaPeer, partner at Peninsula Capital Partners, said “he is excited to be joining forces with MMGY and that Peninsula is looking forward to working with Clayton Reid and his outstanding management team to accelerate MMGY’s growth in the coming years”.
MMGY was advised on the transaction by investment bank Cappello Global LLC and by Winstead PC on legal matters.
Peninsula Capital Partners is a leading Midwest private equity firm. The company has invested over $1.2 billion since its founding in 1995, and has a successful track record of growing businesses both organically and through acquisitions. Peninsula is owned entirely by its founders, senior partners and major investors, including state and corporate pension funds, insurance companies, banks, funds-of-funds and wealth management firms.
Fine Equity Partners IV is controlled by Jeffrey Fine, former CEO of CIBT, Inc., the world’s largest expeditor of travel visas. Mr. Fine helped guide CIBT through over 50 acquisitions and will advise the MMGY team on identifying and capitalizing on MMGY growth opportunities.
MMGY Global is a $150 million marketing agency specializing in the travel, entertainment and hospitality industry. The company is recognized as a thought-leader in the travel category and has worked around the world since 1981, with offices in Kansas City, New York, Orlando and Madrid. In 2012, MMG Worldwide and Ypartnership joined to form MMGY, with founders Don Montague and Peter Yesawich consolidating their leadership positions in the category. The company has won numerous industry awards and authors acclaimed industry research, including the Portrait of American Travelers® and travelhorizons®.
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