CVC Capital Partners backs Skroutz

Skroutz's founders will retain a stake in the company and continue to lead the business.

With the support of CVC, the company intends to use the fresh capital to develop new features and services, and further expand across the Greek market.

The GP deployed capital from CVC Capital Partners Fund VII, which held a final close on its €15.5bn hard-cap in June 2017. The fund originally targeted €12.5bn and had a hard-cap of €15bn when it was announced in November 2016.

The vehicle invests equity tickets of €100m-1bn – with a sweet spot of €300-500m – in companies with enterprise values of €500m-5bn. It targets European and US-based businesses with the split said to be at 75/25 in favour of Europe. No single investment may be greater than 15% of the fund.

Company
Founded in 2005 and headquartered in Athens, Skroutz is an e-commerce platform that connects 6 million online shoppers with 4,500 merchants and offers more than 10 million products. The company employs 300 staff.

People
CVC Capital Partners – Steve Koltes (co-chair).
Skroutz – George Hadjigeorgiou (co-founder, CEO).

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• Topics
• Buyouts
• Southern Europe
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• CVC Capital Partners
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