Vitruvian reignites exit plans for aviation data firm OAG

The sponsor is looking to hire due-diligence advisors by the end of the month, one of the sources said, with another of them adding that it is looking to hire financial advisors by the end of the year.

Vitruvian had been expected to launch a sale of the asset early this year, as reported by Mergermarket in June 2021.

The asset is expected to be marketed off USD 30m (EUR 30.8m) EBITDA, two of the sources said. The business fared well through COVID-19 and saw an uptick in performance after surviving the pandemic, one of them added.

Numerous sponsors are interested in the asset, one of the sources said, adding that it would appeal to strategic buyers as well.

In December 2021, OAG targeted a run-rate EBITDA of USD 25m, up from around USD 21m of adjusted EBITDA in 2020, showing the group's resilience throughout the pandemic, as reported.

Vitruvian acquired OAG from Epiris Managers in February 2017 for about USD 215m.

OAG provides a range of data sets to the aviation industry including flight status, historical, schedule, passenger booking and emissions data. Customers include American Airlines, EasyJet, Emirates, Etihad, Mastercard and TUI, according to its website.

Vitruvian Partners declined to comment. OAG did not respond to requests for comment.

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