ATCORE is a leading technology provider to the global travel industry.

Investment type
  • Carve out
Deal value


Exit type
  • Private equity sale
Exit date

May 2024

Re-investment date

February 2018

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The funding and guidance from LDC has been instrumental in seeing through what has been an incredible period of transformation and growth for the company.”

David Cruickshank, CEO

During the first three years of the partnership, LDC supported the management team to deliver new product launches, Atcom Search platform and Atcom Retail Browser, as well as the acquisition of Tigerbay, to further diversify the business’ offering and enter new markets.

New strategic hires were also made to the management team, with Dave Cruickshank joining the business and being appointed as CEO in 2015. Mike Kingswood, previous CEO, moved into a non-executive position.

With LDC’s support, ATCORE recorded revenues of £26m, and grew EBITDA to £8.2m over the period.

Reinvesting support

In November 2017 LDC exited its investment in ATCORE in a transaction that generated a money multiple return of over 3x for LDC.

LDC reinvested in February 2018 to continue supporting the management team’s growth strategy.

A decade of support

In May 2024, French travel technology company Travelsoft acquired ATCORE.

The transaction marked a full exit for LDC, following a successful 10-year partnership that saw ATCORE achieve its ambition to expand internationally and transform into one of Europe’s leading software-as-a-service providers to the travel industry.

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It was important for us to firmly establish our own identity after we become an independent entity, and we have worked closely with LDC to expand into new markets and invest in our suite of products.”

David Cruickshank, CEO