Oakley Capital acquires Facile.it

Oakley drew down €27m from its second fund, while Facile's founders also reinvested some of their proceeds in the deal.

Oakley stated it was attracted to the deal by the growth potential in the Italian online car insurance market, with only 10% of policies in the country currently purchased through the internet. It was also attracted by the company's brand recognition and diversified product range.

The investment is the fourth to be made from Oakley's second fund, following the recent acquisition of North Sails Europe, a licensing firm and distributor for sailing technology products.

Company
Founded in 2008 and headquartered in Milan, Facile was originally an online car insurance broker and price comparison website. It has since extended its product range to include comparison services for gas and electricity, broadband internet, banking and mobile phone providers. The company also has offices in Madrid and Tirana.

In 2013 the company had a turnover of €28.6m and EBITDA of €4.7m, up from €19.3m and €400,000 respectively in 2012.

People
Peter Dubens is managing partner at Oakley. Mauro Giacobbe is managing director of Facile.

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• Topics
• Buyouts
• Southern Europe
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• Italy
• Oakley Capital