Advised eTraveli, a leading European Online Travel Agent combining flight booking and metasearch capabilities, on its sale to ProSieben Travel
Oct 2015
acquired by
$269 million
  • Sector: Media & Internet
  • Deal Type: Strategic Deals; Private Equity Deals
  • Engagement type: Sellside
  • Size: $269 million
Scroll

Arma Partners is pleased to announce that it has acted as exclusive financial advisor to Etraveli Holding AB, a portfolio company of Segulah IV L.P., on its sale to ProSiebenSat.1 Media AG for c.€235 million. For ProSiebenSat.1, Etraveli represents its largest international investment in eCommerce to date and it complements its travel portfolio brand 7Travel.

Etraveli is one of Europe’s largest Online Travel Agents, combining leading flight booking and metasearch capabilities.

The company is headquartered in Uppsala, Sweden, and operates in 40 countries and four continents. In 2014, Etraveli generated c.€900m in Total Transaction Value and €69m in Net Revenue. In the first six months of 2015, Net Revenue growth was 34% y-o-y.

The transaction is subject to approval by competition authorities.

This transaction underscores Arma Partners’ continued momentum in the online travel sector and its ability to deliver highly successful outcomes for growth companies.

– Founded in 2007 from the merger of Seat24 Travel and SRG Online, Etraveli is one of Europe’s largest Online Travel Agents, combining leading flight booking and metasearch capabilities

– In 2014, Etraveli generated c.€900m in Total Transaction Value and €69m in Net Revenue. In the first six months of 2015, Net Revenue growth was 34% y-o-y

– The company is headquartered in Uppsala, Sweden and operates in 40 countries worldwide

– ProSieben is one of Europe’s largest diversified media groups, reaching more than 42 million TV households daily in the DACH region

– Through its strategic investment arm, 7Commerce, Prosieben has made 80+ investments in eCommerce

– The company recorded revenues of €3.0bn for the 12 months ending June 2015 and has an enterprise value of c.€11bn

– The transaction represents a significant step toward internationalizing ProSieben’s existing travel portfolio and lays the foundation for additional growth that extends beyond Europe

– Additionally, Etraveli will leverage ProSieben’s strong platform, marketing reach and e-commerce base in entering the German flight metasearch market

– Arma Partners supported Etraveli in the exit process, including financial analysis, strategic positioning, valuation, marketing materials preparation

– ProSieben emerged as the most attractive bidder for the business and Arma, together with the management team and Segulah, consequently worked towards a very tight and compact timeline to complete the deal which pre-empted a wider auction process

– This transaction demonstrates Arma Partners’ strength in European Technology M&A and outstanding track record in the Online Travel sector in particular