Private equity firm Endless has sold its stake in travel media company Ink to The Stagwell Group, generating a 7.7x return on investment.
Ink creates digital, video, print and experiential branded content for travel companies including American Airlines, Singapore Airlines, Etihad, Virgin Atlantic and Amtrak.
The business is based in London and the content it creates is delivered to 802 million passengers.
Endless invested in Ink in March 2015 to support the management team led by joint CEOs Michael Keating and Simon Leslie, and since then the business has opened new offices in Miami and Abu Dhabi and secured several new partnerships.
Francesco Santinon, Partner at Endless, said: “Having been involved since our initial investment in Ink, we are delighted to have seen the transformation and growth of the business that has seen us exit to The Stagwell Group. We are incredibly proud of the work that has been done, not only visible from the new offices opened around the globe and new customers launched, but the exciting new digital products launched over the last three years, all of which have created a strong base for the business as it looks to the future.”
Michael Keating and Simon Leslie, joint CEOs of Ink, added: “With Endless’ backing we have been able to build upon Ink’s market leading position, making the business truly “best in class”, serving a portfolio of blue-chip customers across the globe. The future looks very bright with The Stagwell Group, with the two parties being an excellent strategic fit.”