CCMP, Axis and Corpfin back Volotea
CCMP Capital, Axis Participaciones Empresariales and Corpfin Capital have contributed to a €50m funding round to support the launch of Barcelona-based low-cost airline Volotea.
Following the transaction, CCMP owns 49% of the company, Axis and Corpfin hold a 25% stake and the company's founders, Carlos Munos and Lazaro Ros have a 26% share.
The company is set to begin operations on April 5th from Venice.
Company
Based in Barcelona, Volotea aims to connect small and mid-sized European cities that are not currently well-served by direct flights, operating 125-seat coach class Boeing 717s. The company's founders, Carlos Munos and Lazaro Ros, are co-founders and continued stakeholders of low-cost carrier Vueling Airlines, now owned by International Airlines Group. Volotea may employ up to 20 former Spanair employees.
People
Greg Brenneman, former president and COO of Continental Airlines, is chairman of CCMP Capital. Emilio Ramos Gorostiza is operations director at Axis. Felipe Oriol is president and founder of Corpfin Capital.
More on Southern Europe
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater
EU FSR could impact PE fundraising with potential rise in ‘clean funds’
FSR could lead GPs to create funds without foreign LPs; red tape around sovereign wealth funds likely
Letter from the editor: Unquote is moving to Mergermarket
Unquote Editor Harriet Matthews outlines Unquote.com's upcoming move to the Mergermarket platform and the new capabilities and intelligence that this brings to Unquote readers
GP Profile: Apheon builds on family roots, mulls exits and reinvestment opportunities
Belgian GP, formerly known as Ergon, to continue to target family- and entrepreneur-owned European businesses
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater