Suma Capital buys stake in GrandVoyage

Arvin Abarca, founder and CEO of GrandVoyage, will retain the remaining majority stake.

Unquote understands that Suma Capital partners David Arroyo and Enrique Tombas will join the company’s executive board to support management in this new phase of expansion.

The GP deployed capital from its €50m Suma Capital Growth Fund I to finance the acquisition. The vehicle targets Catalonian SMEs with EBITDA of at least €2m and deploys equity tickets between €5-15m.

The company will use the capital injection to extend its product offering by including new countries and destinations in its online platform as well as by increasing its investments in technology, and potentially by pursuing a buy-and-build strategy.

Company
Founded in 2013 and headquartered in Barcelona, GrandVoyage is an online tour operator that specialises in organising journeys and offering package holidays to 17 countries located in Asia, Africa and America. The company employs 20 staff and generated an EBITDA margin of 5% from revenues of €6m in 2017. It forecasts EBITDA of €400,000 from a turnover of €8m for 2018 and plans to reach revenues of €30m by 2022.  

People
Suma Capital - David Arroyo (partner); Enrique Tombas (partner).
GrandVoyage - Arvin Abarca (founder, CEO).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Suma Capital
• Spain