GCA Altium is now part of Houlihan Lokey

Transaction Details

December 10, 2019



Deal Type


Deal Team

Sascha Pfeiffer, Malte Abrams, Eric Erbeck, Marius Becker

GCA Altium advises the shareholders of Midoco on their sale to LEA Partners

GCA Altium has advised the shareholders and management team on the sale of a majority stake in Midoco, a market leading provider of midoffice software for all segments of the travel industry, to LEA Partners.

The Midoco Group comprises Midoco and Umbrella AG, which was acquired by the group in 2018. Midoco has customers in more than 60 countries and processes EUR 13bn in travel revenue annually.

Midoco is based in Hilden, Germany and was founded in 2005. The company automates processes and workflows for travel agencies, travel management companies, online travel agencies and tour operators. Midoco has extensive experience in the automation of processes in the travel industry, and its software processes a total of six million airline tickets annually. More than 22,000 users work with Midoco software every day, and its clients include TUI, Lufthansa City Center, Uniglobe Travel, First Business Travel and LMX Touristik.

Umbrella, headquartered in Wetzikon, Switzerland, specializes in synchronizing the profiles of business travellers between booking systems. Umbrella also operates Umbrella .net, a web-based midoffice software. Umbrella is active worldwide.

LEA Partners, an entrepreneurial-minded multi-stage private equity firm that backs and supports B2B technology companies, emerged as the ideal partner to support Midoco in its next growth phase due to its strong software focus.
This transaction builds on GCA Altium’s strength in the travel software sector, having advised on the investments in peakwork by TUI and Brockhaus Private Equity as well as the sale of OAG to Vitruvian.
Further details of the transaction were not disclosed.

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