Investment to Accelerate Growth of the UK’s Leading On-line Retailer
for Rail Tickets
LONDON–(BUSINESS WIRE)–
KKR,
a leading global investment firm, today announced the acquisition of
Trainline, the UK’s leading online platform for selling rail tickets to
both consumers and businesses.
Trainline is the most downloaded travel app in the UK and its website
ranks 5th by gross transaction value in the UK e-commerce sector. The
company has 4.7m active customers, 20.8m visits per month and operates
platforms for both consumers and businesses. Trainline is licensed to
sell rail tickets on behalf of all UK Train Operating Companies,
Deutsche Bahn and Trenitalia.
Doug McCallum, Chairman of Trainline, said: “Our vision is to transform
Trainline into a leading international ecommerce platform and an
indispensable partner of the smartphone-enabled digital mobility
landscape. We are excited to be able to accelerate this journey with an
experienced and global investment partner like KKR.”
Clare Gilmartin, CEO of Trainline said: “Trainline has achieved a lot
during our eight years working alongside Exponent to develop the
business, and we are well positioned to capitalise on great growth
opportunities driven by the systemic shift to online in rail and the
step-change in mobile and e-fulfilment, as well as international
opportunities. In KKR we have found a partner that can support our
expansion with capital, operational resources and access to its global
network.”
Dominic Murphy, Member and Head of KKR operations in the United Kingdom
commented: “The investment in Trainline adds to our track record of
partnering with entrepreneurs and management teams to build global
companies and industry leaders. Similar to our Alliance Boots
investment, we will support a strong investment program leading to a
further transformation and strong international expansion of the
company.”
Philipp
Freise, Member and Head of the European Media & Digital investment
team at KKR, added: “Trainline is uniquely positioned to capitalize on
the significant expected growth in mobile penetration and benefits from
a best-in-class leadership team. We are excited about partnering with
the team to accelerate Trainline’s growth, as we have done in our recent
digital-driven investments in BMG, Fotolia and Scout24 Switzerland. KKR
supports such companies in their growth ambitions through
entrepreneurial capital and access to our worldwide network of companies
and domain experts.”
KKR has a long established track record of supporting technology
companies, having invested more than $13 billion of equity in 49+
companies across software, Internet, media and IT-infrastructure since
2000.
This transaction is subject to customary regulatory approvals. Financial
details are not being disclosed.
About KKR
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners’ capital and brings opportunities to others through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com.
About Trainline
thetrainline.com is the leading online provider of rail tickets for rail
travel in the UK by value of tickets sold, with a mission to help rail
passengers save money, time and hassle. Customers booking Advance fares
with thetrainline.com or via the mobile app can save an average of 43%
versus booking on the day of travel (limited availability & routes).
Since it was established in 1997, thetrainline.com has developed a
robust and scalable core IT platform with a strong focus on
customer-driven innovation. The Company’s consumer website and mobile
apps received an average of 20.8 million visits per month for the 12
months ended 8 November 2014, and the mobile apps, with 7.4 million
downloads to 31 December 2014, were ranked number one in both the
“Travel” and “Transportation” categories on iOS and Android in the UK on
5 January 2015. In addition to its consumer offering, the Group also
provides rail booking solutions for large corporate entities, Small and
Medium Enterprises and Travel Management Companies, and supports the
online sales platforms of a number of Train Operating Companies.
Media Enquiries
Finsbury
Nina Suter, +44(0)20 7251 3801
nina.suter@finsbury.com
Source: KKR
