FRANCE - Gimv and UFG PE pay EUR 31.6m for 46% stake in Easyvoyage

FR
14 October 2009

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Gimv and UFG Private Equity have acquired a 46% stake in travel website Easyvoyage for EUR 31.6m of debt and equity. The deal also saw company management and initial shareholders invest, with founder Jean-Pierre Nadir retaining a 40% stakes.

Among the vendors were previous backers Actem and Seventure, which paid EUR 9m in debt and equity for a 36% stake in Easyvoyage in 2006, and have now fully exited the investment. The deal value was comprised of EUR 21.2m in equity, of which Gimv provided the lion's share of EUR 16.2m, and EUR 10.4m in debt provided by CIC.

Easyvoyage is a website providing a range of travel information including travel guides, maps and photos, as well as discussion forums. The site, which also offers a price comparison search engine, differentiates itself from its competitors thanks to its editorial contents updated daily. The company is also present in Spain, the UK, and Italy. The company, founded in 2006 and based in Paris, aims to generate a turnover of EUR 19.3m in 2009.