Creador, a Malaysia-based private equity firm, has on Thursday announced the acquisition of a controlling stake in MG Group, an Indonesia-based business to business (B2B) hospitality marketplace, from Northstar and other shareholders.
Creador said in statement this investment marks its entry into the fast-growing global travel industry, bolstering its presence in one of the world’s most dynamic and high-growth sectors.
According to the statement, Southeast Asia’s travel industry is witnessing a robust recovery in the post-pandemic era, driven by a growing middle class and increasing numbers of first-time travelers.
With significant growth potential, the sector is positioned for sustained long-term expansion.
Founded in 2000 MG Group has grown to be the leading player in Indonesia whilst expanding its footprint across Southeast Asia.
Leveraging a scalable distribution technology platform, the group connects over 8,000 global accommodation buyers with more than 350,000 accommodation suppliers, making it a key player in the region’s travel and hospitality ecosystem.
“As our 11th investment in Indonesia since 2011, this reaffirms our dedication to supporting the country’s thriving economy and growth-oriented businesses,
“MG Group’s market leadership and strong relationships with prominent accommodation suppliers and buyers make it well-positioned for exceptional growth across the region,” said Brahmal Vasudevan, Founder and CEO of Creador.
“We are impressed by the remarkable progress MG Group has achieved under its previous shareholders, and we are excited to partner with the management team on the company’s next phase of growth and enabling its global ambitions,” he added.
Wong Chee-Yann, Chief Investment Officer of Northstar, said that under Brett Henry’s leadership, MG Group successfully navigated the Covid pandemic’s significant impact on the hospitality sector during 2020-21, and emerged stronger than before.
“They did that by taking the opportunity to digitalize operations, which improved productivity substantially, and established global strategic partnerships, such that MG Group delivered strong profitable growth from 2022,
“We look forward to MG Group’s continued growth and success,” he added.
Meanwhile, Brett Henry, President Director at MG Group, said this is a defining moment for MG Group.
“Partnering with Creador provides us with the resources and expertise to expand our footprint, strengthen our platform, and deliver even greater value to our partners,
“Together, we will shape the future of B2B hospitality in Southeast Asia and beyond,” he added.
According to him, Northstar support enables MG Group’s digital transformation, which laid the foundation for its current success.
Creador is a private equity firm dedicated to partnering with growth-oriented businesses in Southeast Asia and India.
Since its inception, the firm has raised $3.1 billion from a diverse group of global investors, including prominent corporations, foundations, family offices, and institutions.
In Indonesia, Creador has been an active investor since 2011, making impactful investments in more than ten companies, including Hermina Hospitals, Cimory, BFI Finance, and the recently IDX-listed Mr. D.I.Y. Indonesia.