TowerBrook Capital Partners Agrees to Sell CarTrawler to Expedia

Fried Frank advised TowerBrook Capital Partners (TowerBrook) on its agreement to sell CarTrawler, an Ireland-based B2B platform powering car rental, ground transport and insurtech solutions for the global travel industry, to an affiliate of Expedia Group, Inc. (NASDAQ: EXPE).

CarTrawler's platform brings exceptional depth, breadth and expertise across these areas, connecting 550+ car rental suppliers and 500+ mobility suppliers to more than 300 leading travel brands around the world, including more than 70 airlines. The acquisition will combine CarTrawler's capabilities with Expedia Group's extensive scale, technology and partner network to unlock several new growth opportunities. Read the companies' press release for more on the transaction, which is expected to close in the second half of 2026, subject to customary closing conditions.

Fried Frank M&A and private equity partners Christian Iwasko and Michelle Tong advised TowerBrook on its controlling equity investment in CarTrawler in 2020. In the past 12 months, the firm has advised TowerBrook on several significant transactions, including its agreement to invest in GMC Group, one of Ireland's leading civil and mechanical engineering firms; its agreement to sell AustroCel Hallein, one of Europe's most advanced biorefineries and a zero-waste, circular economy pioneer, to Oji Holdings Corporation; and TowerBrook and its portfolio company IDAK Food Group on the equity and finance workstreams relating to their acquisitions of Sorrento Sapori e Tradizioni, a pizza snack company based in Italy, and Onoré, a producer of high-quality frozen bakery products and snacks headquartered in France.

Christian and Michelle are leading the Fried Frank team advising TowerBrook on this latest transaction.

This communication is for general information only. It is not intended, nor should it be relied upon, as legal advice. In some jurisdictions, this may be considered attorney advertising. Please refer to the firm's data policy page for further information.