sold to Etraveli
TravelPartner: A leading online travel agency operating across 20 European countries
”We aim to use our position as a market leader in the Nordic region as a springboard for growth across Europe.”
Ralph Axelson, CEO, Etraveli
2009 revenue growth
Publicly listed pan-European leading OTA
TravelPartner is a leading European, publicly listed, IATA-affiliated online travel agency.
It offers a range of flight tickets, hotel, charter, holiday packages, car rentals, and more via the web and telephone travel agents.
It is headquartered in Stockholm, Sweden where it was founded in 1997, and since 2006, the company is trading on Nasdaq First North.
Today, the company provides services across 20 European markets through localized websites, with Sweden, Norway, the UK, Spain and Germany being its key markets.
Etraveli acquiring main competitor to create the Nordics’ largest OTA
TravelPartner was sold to its main competitor Etraveli, in a deal creating the leading Nordic online travel agency, for SEK 227m (USD 32m).
Backed by PE firm Segulah, Etraveli is a leading European provider of travel related services through its brands Seat24, Supersavertravel, Flygvaruhuset, Travelstart, Gotogate and Flybillet.
The acquisition comes via an all-cash public-to-private offer, where Etraveli paid SEK 28 per share, representing a premium of 18% (over the 10-day volume weighted price post-announcement).
The transaction enables TravelPartner to further develop its operations as part of the Etraveli Group, which broadens its positions in the Nordics and Europe.
Part of the acquisition is Mr. Orange, an online booking engine developer, which TravelPartner acquired for SEK 23m (USD 3.3m) in 2010.
Stella EOC acted as sole advisor to the sellers.