Piper PE and Cool Japan Fund have backed a management buy-out of Inside Travel Group
Inside Travel Group (ITG) has been sold to Piper PE and Cool Japan Fund. This acquisition aligns with ITG’s goal of becoming the leading specialist in tailor-made and group tours across Asia. Piper PE and Cool Japan Fund will continue to support ITG’s founders and management team, driving the business’ growth in Japan and other Asian destinations.
Piper PE invests in fast-growing brands with sales of US$6–63 million (£5–50 million). As a diverse team of investors, brand strategists, digital innovators and talent and culture experts, it has helped over 50 brands become industry pioneers across 70 countries. In addition, Piper has driven high online growth and opened more than 250 experiential spaces for people to shop and socialize. Cool Japan Fund is Japan’s sovereign wealth fund focused on investing in businesses that promote Japanese culture around the world.
Inside Travel Group, an award-winning cultural adventure tour operator, specializes in tailor-made holidays to Japan and Asia. It has a team of passionate experts across offices in the UK, Australia and the USA. The team prioritizes customers’ holiday experience and provides the best recommendations for the ideal time to visit. Over the past 20 years, they have established a reputation for delivering exceptional service and continuously improving the business.
Oaklins Cavendish, one of Oaklins’ member firms in the UK, advised Piper PE and Cool Japan Fund on their investment in Inside Travel Group. This transaction builds on the team’s extensive long-term credentials in the travel sector.



Dan Stern
Partner, Piper PE
Talk to the deal team
Related deals
Danish leader in access control systems has been sold to Vækst-Invest
Unitek, a leading provider of innovative access control systems in Denmark, has been acquired by the Danish private equity firm Vækst-Invest to drive its growth and expansion.
Learn moreAcapo AS has been acquired by Longship AS
Oslo-based intellectual property advisory firm Onsagers, supported by Longship since May 2024, has acquired Acapo AS. By combining decades of expertise and global reach, this strategic acquisition unites two of Norway’s most reputable IP firms, enabling them to offer a comprehensive range of solutions in patents, trademarks and IP strategy. This milestone strengthens their position in building a best-in-class network for strategic IP management, marking a key step in their continued growth.
Learn moreAfric Phar has been acquired by Pharma Capital
Pharma Capital S.A. has acquired a significant stake in the Moroccan pharmaceutical group Afric Phar, which includes leading companies Afric Phar, Pharmis and Partner Lab, from the Chaoui family, in one of the largest transactions in the Moroccan pharmaceutical sector.
Learn more