Small-group tour operator G Adventures Wednesday said it has closed on an investment from New York private equity firm Certares that will position it for growth after the global pandemic.
The amount and terms of the investment were not disclosed, but G Adventures founder Bruce Poon Tip remains the controlling shareholder of the business.
Poon Tip said the investment "enables the company to accelerate its pursuit of merger and acquisition opportunities [and] investments in shared services platform upgrades.
"I'm extremely excited that our partners at Certares share our vision and believe in us to identify and realize incredible opportunities for our people, our business and our industry," Poon Tip said. "They truly understand our company and are experts in the travel space.
"I have always said tourism can be the biggest form of wealth distribution the world has ever seen, and this investment means we can do even more to build back travel the right way."
David Lande, managing director of Certares, called G Adventures "a best-in-class company with an impressive management team that has demonstrated innovation in its operating model."
Among Cetares investments in leisure and corporate travel are agencies American Express Global Business Travel and Internova, numbers 3 and 7 on the Travel Weekly 2020 Power List, respectively; river cruise company AmaWaterways; Mystic Investment Holding (parent of Mystic cruise line and Atlas Ocean Voyages); Liberty TripAdvisor Holdings (parent company of TripAdvisor); and the South American airlines Azul and Latam.