CarTrawler, the Dublin technology firm controlled by brothers Greg and Niall Turley, has secured investment from UK private equity firm ECI Partners.
In a statement, CarTrawler said the ECI investment will allow it to continue its “aggressive expansion plans”.
The company currently employs 90 people, mainly based in Dublin, with a small overseas office in Seattle in the US.
Established in 2004, CarTrawler grew out of a family business Argus Car Hire, which was sold to Irish Car Rentals in 2007.
It provides web-based software to airlines, travel agents, tourist agencies and others in the travel and tourism trade so they can provide a car hire booking service. Over 550 car hire firms, including major brands such as Avis, Hertz and National, as well as independent companies, provide details of their car hire inventory for CarTrawler.
It takes a percentage cut from all the car rental bookings done through its systems.
Greg Turley told The Irish Times earlier this year the company had revenues of €141 million in 2010, up from €100 million in 2009.
The company said its former chief operations officer Mike McGearty will be the new chief executive. Bobby Healy will continue as the company’s chief technical officer and Niall Turley will remain director of supply.
Greg and Niall Turley will retain non-executive director and executive director roles respectively in the business and remain as significant investors.
ECI, which has offices in Manchester and London, specialises in buyouts, buy-ins and development capital deals of £10 million to £150 million. This is its fourth deal in seven months, the others being XLN, Reed & Mackay and Fourth Hospitality, with total equity invested by ECI of nearly £130 million.