Siparex backs NG Travel in MBO

Co-founder Olivier Kervella and the management team will retain a majority stake in the business.

Karim Massoud, a co-founder of the group, sold his stake and will take over Plus Voyages, a subsidiary dedicated to business travel.

A spokesperson for Siparex confirmed the GP used its €315m fund Siparex ETI 4. The vehicle invests tickets of up to €30m, with the possibility of taking part in equity investments of up to €50m when co-investing.

The backing of Siparex will help NG Travel develop its brands and acquire more resorts.

The deal represents the fourth transaction in the mid-market travel and tourism space in France since the beginning of the year. In March, online travel agency Karavel-Promovacances was bought by Equistone from LBO France, while in May, Ontario Teachers' Pension Plan acquired a 40% stake in mobile-home holiday rental company European Camping Group; its previous backers Carlyle and Montefiore retained the majority of the business. In June, Siparex, EdRip and Calixte sold their stakes in Marietton, a provider of tour and travel services.

Company
Founded in 2008, NG Travel generates turnover of €230m, up 25% from 2017, according to the business. The group offers a range of holiday stays covering nearly 30 destinations, including Italy, Spain, Greece, Tunisia, Morocco, Oman, Cuba, the Dominican Republic, Mauritius, Thailand and Vietnam. The group operates several brands including Directours, Boomerang, Promosejours.com, Ileatours, CE Evasion, Kappa Clubs and Clubs Coralia. NG Travel employs 200 people and is based in Paris. 

People
NG Travel – Olivier Kervella (founding president).
Siparex Group – Olivier Golder (partner).

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• Topics
• Buyouts
• France
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• France
• Siparex