Malaysia-based private equity firm Creador has announced the acquisition of a majority stake in MG Group, an Indonesian B2B hospitality marketplace, from Northstar and other stakeholders, according to a statement on Monday.
The details of the transaction were not disclosed.
The investment marks Creador’s entry into the global travel sector — a vibrant and high-growth industry. Southeast Asia’s travel sector is experiencing a strong post-pandemic recovery, driven by a burgeoning middle class and increasing numbers of new travellers, setting the stage for long-term sustainable growth.
Since its founding in 2000, MG Group has grown in the Indonesian market and also expanded across Southeast Asia, connecting over 8,000 accommodation seekers globally with more than 350,000 accommodation providers. Its microservices-based platform, MG Jarvis, is transforming B2B hotel distribution by enabling fast, cost-effective, and high-quality real-time connectivity.
Hotels value MG’s platform for its granular control over B2B distribution and MG’s strong position in the TTA (Travel Trade Account) segment, the company claims.
Northstar entered the MG Group’s captable in 2016 by investing an undisclosed sum in MG Group’s unit MG Bedbank.
“We are inspired by the progress MG Group has made under previous leadership, and we eagerly anticipate collaborating with the management team to drive the company’s next growth phase and global aspirations,” said Brahmal Vasudevan, Creador’s founder and CEO, in the statement.
Northstar’s chief investment officer, Wong Chee-Yann, praised MG Group’s resilience, noting that even during the challenging COVID-19 period of 2020-21, the MG Group embraced digital transformation. “This enhanced productivity and forged strategic global partnerships, enabling strong and profitable growth from 2022 onwards. We look forward to MG Group’s continued upward trajectory.”
Brett Henry, president director of MG Group, said: “Partnering with Creador provides us with the resources and knowledge to broaden our footprint, strengthen our platform, and deliver even greater value to our partners. Together, we will redefine B2B hospitality in Southeast Asia and beyond [..],” he said.
This investment marks Creador’s eleventh in Indonesia since 2011. Some of its investees include Hermina Hospitals, Cimory, BFI Finance, Adilmart, and IDX-listed Mr. D.I.Y. Indonesia.
In December 2024, Creador’s sixth fund, Creador VI LP, secured $40 million in equity commitment from the Canadian development finance institution FinDev Canada. The fund is committed to supporting growth-oriented, mid-cap enterprises in consumer, retail, financial services, healthcare and business sectors across key Indo-Pacific regions, including Malaysia, Indonesia, the Philippines, and India. The fund is reportedly looking to raise $750-800 million,
In 2022, the PE firm raised $700 million for its fifth fund to back companies in Southeast Asia and India.
