Caisse invests $200 mln in TA Associates-backed Plusgrade
Caisse de dépôt et placement du Québec has invested $200 million in Plusgrade, a Montréal-based provider of ancillary revenue solutions to the global travel industry. The deal, which values Plusgrade at more than $600 million, saw the Caisse acquire a portion of the shares held by U.S. private equity firm TA Associates. TA Associates, which invested in the business in 2015, will continue to be a major shareholder. Founded in 2009 by CEO Ken Harris, Plusgrade's software platform provides upsell solutions, helping travel suppliers in more than 50 countries generate new revenue opportunities. The partnership with the Caisse will support the company's growth plan, which includes entering new markets and expanding the product suite.
28 November 2018•4 mins read
