Easyvoyage does another leveraged buyout for €31.6 million
The two new financial investors are UFG and GIMV. The initial shareholders Frederic Chevalier, Jacques Maillot, Francis Reverse, and Mogador Participations will maintain their position. Jean-Pierre Nadir, Founder and CEO now holds 40 per cent of the shares.
This second LBO follows an LBO of €9 million in December 2006. Easyvoyage has doubled revenue year-on-year.
The financial backing for Easyvoyage is ensured by the banks CIC and the Banque Populaire as well as two new ones: the BCME and the Caisse d’Epargne. Easyvoyage operates in Spain, Italy and the UK.
The site has 6 million unique users in France and according to ComScore is top 3 in Spain, top 5 in Italy and plans to launch in Germany in November this year.