USIT
Ion Equity exited the USIT investment in 2019.
USIT is the leading agency in Ireland for student, youth and independent travel. It employs about 140 staff in its headquarters in Dublin and across its 10 other sites in Ireland and Australia. It has developed a unique range of products specifically for student and youth travellers, including work, travel and volunteer programmes (including the popular J1 US Student Visa Programme). It is also Ireland’s leading provider of group tours to primary and secondary schools.
Following difficulties in the travel sector USIT was placed into Examinership (similar to Administration / Chapter 11) in 2002. Ion Equity led the €20m acquisition of USIT from the Examiner in June 2002 and the subsequent turnaround in the business.
USIT successfully sold its hotel businesses in July 2005 and had turned its travel agency business back into significant profitability when Ion Equity exited USIT in mid 2019.
» usit.ie