The McLean Group Closes Fifth Travel & Hospitality Transaction in Ten Months
MCLEAN, VA – October 2, 2012 – The McLean Group today announced that it acted as the exclusive mergers and acquisitions (M&A) investment banking advisor to Adaco Inc. (Adaco), a global supplier of SaaS purchasing and inventory control solutions to the hotel sector, and Adaco’s shareholders, Sunil and Uma Reddy, in the company’s sale to Fourth Hospitality (Fourth), a leading global SaaS provider of labor, procurement and inventory management solutions to the foodservice and hospitality industries. Fourth is a portfolio company of ECI Partners, a UK-based private equity firm. Financial terms of the deal were not disclosed.
“We are very pleased in having brought together two complementary and synergistic partners from geographical, product and capabilities perspectives,” said John Rovani, McLean Group Senior Managing Director and leader of the firm’s Travel & Hospitality practice which focuses on service and technology providers to travel, retail, hospitality and foodservice operators. Adaco President Sunil Reddy stated, “We greatly appreciate The McLean Group’s in-depth global industry insight, knowledge, contacts and technical expertise that resulted in an ideal, out-of-the-box transaction.”
This is The McLean Group’s fifth Travel & Hospitality transaction in the last 10 months and one of many international transactions completed by the team. Over the last 10 years, nearly 70% of the practice’s transactions have involved at least one, if not two, internationally-based companies located in Europe, India and Asia/Australia. The McLean Group recently was named 2012 USA Middle Market Investment Bank of the Year by UK-based Acquisition International and John Rovani is a finalist for the 2012 International M&A Advisor Award’s Dealmaker of the Year.
Other recent McLean Group Travel & Hospitality practice deals led by John Rovani include: EZ Revenue Management Solutions’ acquisition by Infor; EZYield’s acquisition by TravelClick; MTech’s acquisition by Newmarket International, and Clarity Commerce Solutions’ acquisition by Enigmatic Investments which is owned by Better Capital Limited (AIM:BCAP).
ABOUT THE MCLEAN GROUP
The McLean Group is an investment bank providing mergers and acquisitions (M&A), business valuation and strategic consulting services to middle market businesses. Headquartered in Washington, DC’s technology, communications and government contracting corridor, it is among the largest independent middle market investment banks in the nation. The McLean Group serves domestic and international clients and has a broad resume of successfully consummated financial transactions.