Triton in SEK 1.1bn sale of Inflight Service Group to Gategroup

New owner Gategroup will wholly acquire IFG in the deal, bringing to a close Triton's six-year ownership of the company.

The trade sale continues a year of high exit activity for Triton, having completed eight divestments since January, including IFG. Most recently, Triton sold Finnish discount retailer Suomen Lähikauppa to trade buyer Kesko for around €60m on a debt-free basis.

Triton's most recent fund – Triton Fund IV – was launched in late 2012 and held a final close on €3.3bn in May the following year, having raised a record amount for the GP.

Previous funding
Triton bought IFG in a secondary buyout from Finnish GP CapMan in December 2009. The exit came four years after CapMan invested in IFG through its CapMan Mezzanine IV and CapMan Equity VII vehicles.

Company
IFG was founded in 1991 and focuses on duty-free and travel retail in the Nordic region as well as central and eastern Europe.

The company is headquartered in Kista and has revenues of SEK 2bn.

People
Peder Prahl is managing partner at Triton.

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• Topics
• Exits
• Nordics
• Consumer
• Triton Partners
• Sweden
• Trade sale