In January 2020, PCP became Travel Sentry’s long-term financing partner by acquiring the existing term loan from the original lenders in a secondary transaction to facilitate one lender’s winddown of a legacy fund.
Travel Sentry owns and licenses the red diamond to global luggage manufacturers. The company was founded by the current owner to facilitate security controls without destroying the suitcases and has a growing geographical coverage. It is managed from Zurich and it is PCP first investment in Switzerland.
PCP appreciates Travel Sentry’s strong market position as well as the downside protection offered from a highly flexible cost base and will work together with the owner to enable a business plan built both upon continued geographical expansion and branching out into ancillary business areas.