Arrowroot Advisors is pleased to announce that it served as the exclusive financial advisor to nuTravel Technology Solutions (“nuTravel”) in its recently completed sale to the Airlines Reporting Corporation (“ARC”).
Located in Westchester, New York, nuTravel is an industry leading technology solutions provider that partners with major airlines to deliver seamless corporate travel solutions. nuTravel specializes in creating customized direct booking channels for customers to easily access flight details and book flights via intuitive user-interfaces.
For more than half a century, ARC has been a trusted provider of airline settlement solutions. In 2018, ARC settled $94.8 billion in transactions between airlines and travel agencies, representing more than 295 million passenger trips. An industry leader in air travel distribution and intelligence, ARC provides channel-agnostic tools and insights to help the global travel community connect, grow and thrive.
“We are excited to partner with ARC,” said Carmine Carpanzano, co-founder, chairman and CEO of nuTravel. “ARC’s reputation and relationships with airlines, both domestic owners and international partners, will expand nuTravel’s resources and capabilities tremendously. Arrowroot Advisors, our exclusive investment banking advisor, was instrumental in achieving an outcome that maximized shareholder value. Arrowroot Advisors guided us through an extensive diligence process and helped us close this transaction with an optimal partner.”
“nuTravels’s Universal Connect API offering combined with customized airline solutions put them at the forefront of the corporate travel booking industry,” added Robert Santos, Managing Director at Arrowroot Advisors. “Travel technology represents a growing segment of Arrowroot Advisor’s marketing technology practice, and we were pleased to serve as nuTravel’s exclusive financial advisor in this important transaction.”
About Arrowroot Advisors
Arrowroot Advisors provides M&A advice and financing solutions to leading growth Software businesses. The word ‘Arrowroot’ is the name of a Japanese vine that tenaciously embeds its roots as it persistently grows, making it difficult to remove. Similarly, we seek to advise businesses that steadily grow and provide critical products and services to companies, making them hard to replace. We strive to identify unique and differentiated industry leading companies and provide them with exceptional Mergers & Acquisitions (M&A) services via our broad and deep networks of investors and acquirers. Collectively, the management of Arrowroot Advisors identified a need to leverage their industry, network, and deal expertise to advise entrepreneurs and investors in the SaaS and Web-enabled economy.