Secaucus-based Northstar Travel Group, a provider of business-to-business information, has been acquired by New York-based Wasserstein Partners, it announced Wednesday.
Wassterstein, along with co-investors Alberta Teachers’ Retirement Fund Board, John Hancock and Storebrand Insurance, acquired Northstar from the Wicks Group of Companies based in New York City.
“We are excited to welcome Wasserstein as our new partner to provide the capital and investment experience to help Northstar achieve our next phase of growth serving one of the largest and most dynamic industries in the world: global travel and tourism,” Thomas Kemp, chairman and CEO of Northstar Travel Group, said in a prepared statement. “Wicks has been a great partner to the company and we thank them for providing guidance and insight over the last four years.”
“We are very impressed with the growth of Northstar Travel Group over the last few years,” Anup Bagaria, co-managing partner of Wasserstein, said in a prepared statement. “The management team has done an excellent job of transforming its core business into an integrated information, data, software, event and marketing solutions company.”
“We have known Tom and Northstar for many years. We are excited about investing in the company’s continued transformation and growth through geographic expansion, new product development and strategic acquisitions,” Michael Struble, partner of Wasserstein, said in a prepared statement.
“We are very pleased to complete the sale of Northstar to Wasserstein,” Daniel Kortick, managing partner of Wicks, said in a prepared statement. “We wish the team and Wasserstein the best as the company embarks on its next phase of growth.”
Terms of the deal were not disclosed.
Harris Williams acted as a financial advisor to Northstar. Morgan, Lewis & Bockius LLC provided legal counsel. Macquarie Capital provided financing and acted as financial advisor to Wasserstein. Jones Day served as legal advisor to Wasserstein.