JTB Corporation, one of Japan’s leading travel solutions providers, has signed a definitive agreement to acquire Northstar Travel Group, which owns M&IT, from investment funds managed by EagleTree Capital and its co-investors.
As part of the transaction, Northstar will operate as a
wholly-owned, independent subsidiary of JTB and will continue to be led by its existing
management team, including chief executive officer Jason Young. Terms of the
transaction were not disclosed.
Northstar operates iconic B2B travel event, media, and market
intelligence brands like Travel Weekly, Business Travel News, ALIS, The
Meetings Show, and Phocuswright. Through these platforms, Northstar connects a
global audience of more than one million professional travel buyers, who shape
and drive the travel industry, with more than 1,500 supplier customers seeking
to engage them.
“We are thrilled to partner with JTB as we enter the next phase of our
company’s incredible history,” said Young. “Our shared commitment to the travel
industry, cultural alignment, and collective expertise – combined with the
opportunity to accelerate Northstar’s geographic expansion in the Asia Pacific
region – will enhance our ability to deliver value to our audiences and
customers as we advance our mission.”
The transaction advances JTB’s growth strategy, which includes
geographic expansion and targeted investments in events, information services,
market intelligence, and other strategic lines of business associated with the
travel industry.
“Today's announcement marks the beginning of an exciting new chapter for
JTB Group," said Eijiro Yamakita, president and CEO of JTB Group.
"Northstar brings outstanding expertise and fresh perspectives that
perfectly align with our strategic vision. By operating Northstar as an
independent subsidiary, we preserve their neutral market position while
creating a powerful platform for delivering superior customer experiences. We
are confident this structure will unlock significant growth potential while
contributing to the innovation and future growth of the travel industry.”
Co-managing partner Anup Bagaria and senior partner Michael Struble of
EagleTree Capital commented: “It has been an honour to partner with the
Northstar team, including chairman and former CEO Tom Kemp and current CEO
Jason Young, and to witness the company’s impressive transformation over the
last few years. We are confident Northstar is well positioned for future
success and look forward to watching it thrive as part of JTB.”
BrightTower served as financial advisor and Jones Day served as legal
counsel to Northstar. SMBC Nikko served as financial advisor and Venable LLP
and Mori Hamada & Matsumoto served as legal counsel to JTB.
Closing of the transaction is expected in September 2025, subject to
customary closing conditions, including regulatory approvals.
