Wed, 02 Apr 2025 | BUSINESS SALE
Banyan Software has bought a technology provider of end-to-end reservation platforms for the travel industry, which works with clients such as loveholidays and On The Beach.
Croydon-based Intuitive Limited is behind iVector, which enables people to manage travel bookings and meet evolving consumer demand. It launched iVector in 2005, just two years after it was founded.
The deal provides an exit for NVM Private Equity.
The company has grown to become a trusted partner for tour operators, hotel wholesalers, and online travel agents. Under NVM's ownership, Intuitive has solidified its position in the global travel technology market while developing new innovative products for travel operators.
The exit was handled by NVM's Manchester office and marks a significant milestone, underscoring the growth and success achieved during the investment period and provides a realisation for Mercia's Northern VCT Funds alongside other funds managed by NVM which held a majority equity stake in the business.
Paul Nixon, founder and chief executive of Intuitive, said: "We're proud of what the team has built with the support of NVM and are excited for this next chapter with Banyan. NVM not only provided the capital investment, but they have been highly proactive in their approach, and I have personally valued their input and expertise as part of our Board team."
The investment for NVM has been managed by Charlie Pidgeon and Karl Cockwill, who said: "Our partnership with Intuitive has been incredibly rewarding. With our support, the business has displayed both remarkable resilience during the global lockdown of Covid and then innovation leading to strong growth as the business went through a transformational journey. We are proud of the role we have played in supporting Paul to develop the business to this point and are confident that Intuitive will continue to thrive as part of the Banyan family.
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