Trainline, the online platform for rail tickets, has been acquired by KKR, a global investment firm, for a suggested £450 million.
Clare Gilmartin, CEO of Trainline said: "Trainline has achieved a lot during our eight years working alongside Exponent to develop the business, and we are well positioned to capitalise on great growth opportunities driven by the systemic shift to online in rail and the step-change in mobile and e-fulfilment, as well as international opportunities."
"In KKR we have found a partner that can support our expansion with capital, operational resources and access to its global network."
The Trainline app is the most downloaded travel app in the UK, with its website ranked 5th by gross transaction value in the UK e-commerce sector.
Currently the company has 4.7 million active customers and receives 20.8 million visits per month, making £1.4 billion in annual sales.
Dominic Murphy, Member and Head of KKR operations in the United Kingdom commented: "The investment in Trainline adds to our track record of partnering with entrepreneurs and management teams to build global companies and industry leaders."
"Similar to our Alliance Boots investment, we will support a strong investment program leading to a further transformation and strong international expansion of the company."
Trainline was expected to float on the stock market and were being advised by investment banks Morgan Stanley, JP Morgan, Cazenove and Numis.
Doug McCallum, Chairman of Trainline, said: "Our vision is to transform Trainline into a leading international ecommerce platform and an indispensable partner of the smartphone-enabled digital mobility landscape. We are excited to be able to accelerate this journey with an experienced and global investment partner like KKR."
KKR acquires Trainline from Exponent, a London based private-equity firm, who bought the company in 2006 for £163 million. KKR has invested more than $13 billion in technology companies since 2000 across software, Internet, media and IT-infrastructure companies.
