Advised BC Partners on its acquisition of a majority stake in CarTrawler, the leading global provider of multi branded car rental solutions
Mar 2014
acquired
$620 million
  • Sector: Media & Internet
  • Deal Type: Founder-led Businesses; Private Equity Deals
  • Engagement type: Buyside
  • Size: $620 million
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Arma Partners is pleased to announce that it has acted as exclusive financial advisor to BC Partners, a leading European private equity firm, on the announced acquisition of a majority stake in car rental technology platform CarTrawler from the Company’s founders, other individual shareholders and ECI Partners. Insight Venture Partners is co-investing in the business by acquiring a minority stake. Financial terms of the deal are not disclosed.

Based in Dublin, CarTrawler is the leading global provider of multi branded car rental solutions to partners in the travel industry, including airlines, OTAs and other online travel related operators. It has over 1,000 partners, connecting end customers to more than 1,200 suppliers across 30,000 pickup locations. It also operates online car rental sites under the Holiday Autos and Argus Car Hire brands.

BC Partners plan on growing the business by enhancing CarTrawler’s already impressive track record in assisting its partners in the travel industry to provide seamless car rental functionality, as well as by expanding CarTrawler’s presence across international markets.

This transaction is an important milestone in the continuing growth of Arma Partners’ leading global internet M&A practice.

– Established in 2004, CarTrawler is a leading technology company providing fully managed online car rental solutions to travel partners in 174 countries

– The CarTrawler technology platform enables partners to offer self-branded car rental to their own customers from 1,200 leading and independent car rental agents at over 30,000 city and airport locations worldwide

– CarTrawler owns Arguscarhire.com and acquired the online assets of Holiday Autos in 2013

– BC Partners is a leading private equity firm with advised funds of €12.6 billion ($17.5 billion)

– Established in 1986, BC Partners has played an active role in developing the European buy-out market for 27 years

– Since inception, BC Partners has completed 84 investments in companies with a total enterprise value of €88 billion ($122 billion) and is currently investing its ninth fund, which was raised in 2011 with total commitments of €6.7 billion ($9.2 billion)

– BC Partners acquired a majority stake in leading car rental technology platform CarTrawler from the Company’s founders, other individual shareholders and ECI Partners

– Insight Venture Partners co-invested alongside BC Partners, acquiring a minority stake, whilst the management team will be retaining a significant shareholding

– BC Partners plan on growing the business through enhancing CarTrawler’s already impressive track record in assisting its partners in the travel industry provide seamless car rental functionality, as well as through expanding CarTrawler’s presence across international markets

– Arma Partners was engaged by BC Partners to co-ordinate the acquisition process and provide full support including due diligence, financial modelling, valuation and deal tactics

– Arma Partners successfully guided BC Partners through a competitive M&A process involving a large number of potential counterparties and unique shareholder dynamic

– This transaction is an important milestone in the continuing growth of Arma Partners’ leading global internet M&A practice