Harris Williams & Co. Advises Travel Entertainment Group on its Sale to Global Eagle Entertainment Inc.

October 21, 2013

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of UK-based Travel Entertainment Group Equity Limited (TEG), a leading provider of entertainment solutions to the airline and cruise ship industries, to Global Eagle Entertainment Inc. in the U.S. (Global Eagle, NASDAQ: ENT). Harris Williams & Co. acted as the exclusive financial advisor to TEG, a portfolio company of Kester Capital LLP (Kester Capital). The transaction closed on October 21, 2013 and was led by Red Norrie and Francois Morin from Harris Williams & Co.’s London office. This transaction further demonstrates the interest Harris Williams & Co. is seeing in cross-border acquisitions and highlights the firm’s expertise in the technology, digital content and aerospace industries.

“TEG has established itself as a global leader in the in-flight entertainment industry through its focus on quality, innovation and customer service. Global Eagle’s acquisition of TEG represents a continued interest in digital content delivery and growth in the global airline industry,” said Red Norrie, managing director at Harris Williams & Co. "Harris Williams & Co. is proud to have partnered with TEG and Kester Capital in evaluating alternatives to continue to grow the business, resulting in this superior outcome.”

TEG, through its main subsidiary IFE Services Limited, is a leading provider of in-flight entertainment solutions to the airline industry and works with a worldwide client-base of more than 50 airlines and cruise ship operators. Services include movies, TV programs, audio, games, 3D maps, applications, safety and destination films, portable entertainment systems, onboard publications and AVOD technical support and management. The company is headquartered in the United Kingdom with regional offices in Madrid, Singapore, Santiago, Sao Paulo, Nairobi, Kuala Lumpur, Oberhausen, Johannesburg and California.  

Kester Capital is a leading United Kingdom mid-market private equity business. It was established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co Inc.

Based in Los Angeles, CA, Global Eagle Entertainment Inc. is the only full-service platform offering both content and connectivity for the worldwide airline industry. Through its combined content, distribution and technology platforms, Global Eagle provides airlines, and the millions of travelers they serve, with the industry's most complete offering of in-flight video content, e-commerce and information services.