AGC Partners Advises Above Property Services (APS) on its Acquisition by IBS Software, a Portfolio Company of Apax Partners
Transaction Details
AGC Partners is pleased to announce that its client, Above Property Services (APS), a leading cloud-based, flexible, scalable, and secure travel platform, has agreed to be acquired by IBS Software (IBS), a portfolio company of Apax Partners. The acquisition will enable IBS to provide the only unified platform in the hospitality industry for seamlessly managing the entire customer journey from booking to fulfillment for the global hotel chain, resort, and gaming markets. The move will significantly expand IBS's offering with the addition of cutting-edge CRS (Central Reservation System), PMS (Property Management System)and RMS (Revenue Management System) solutions. With this acquisition IBS adds Call Center and Demand-side (stored and third-party inventory) solutions to its already established booking engine and distribution platform used by over 36,000 hotels worldwide. With a banking team led by Jon Weibrecht and Charlie Schopp, AGC Partners acted as the sole financial advisor to APS.
Testimonial
"Although I was confident from the beginning that IBS was the optimal choice for APS, there was some initial reluctance in working with a banking partner. Entrusting AGC Partners with this responsibility, however, proved to be the right decision. The industry acumen that Jon and Charlie brought to the table, their strategic foresight, and their comprehensive understanding of legal, financial, and tax issues served as the cornerstone of a lucrative agreement for myself, my family, and my stakeholders. The AGC team navigated the technicalities and cross-border nuances, and the depth and breadth of their relationships, spanning all the key players in the global travel and hospitality tech industry, were instrumental in driving home an exceptional transaction. We express our gratitude for their dedication and needless to say, we are thrilled with the outcome!"
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© In the U.S., America’s Growth Capital, LLC dba AGC Partners, member FINRA/SIPC. In Europe, America’s Growth Capital Europe, LLP (Appointed Representative Alternatives St. James, LLP which is authorized and regulated by the Financial Conduct Authority). America’s Growth Capital Europe, LLP is a Limited Liability Partnership incorporated in England and Wales (OC368580). Its registered address is 6th Floor, 9 Appold Street, London EC2A 2AP. The testimonials contained herein may not be representative of the experience of other customers or clients. Testimonials are no guarantee of future performance or success. Deals marked with an “*” are non-AGC deals.
