eTRAVELi is the leading on-line travel agent in the Nordic
region offering air tickets, hotel reservations, car rental and
other travel related services through the brands Seat24,
Supersavertravel, Flygvaruhuset, Travelstart, Gotogate and
Flybillet. In 2010, the group is expected to report gross sales of
SEK 4.9 billion. Since 2007, eTRAVELi has had an average
revenue growth rate of 22% p.a. The Company's head office is
located in Uppsala, Sweden.
The seller in the transaction is the Norwegian based private
equity group Norvestor.
eTraveli's CEO Ralph Axelson, comments: "Norvestor has
provided valuable support in our development so far, but we are
delighted to have Segulah as new majority owner to assist us in the
next phase of growth at eTRAVELi. We are well positioned to further
strengthen our market position by offering a "one stop travel shop"
for travel related services to our customers".
Segulah Advisor AB's industrial advisor Erik Strand (General
Secretary of the Swedish Sports Confederation, and former CEO of
Ticket and deputy CEO of SAS) will join the board as Chairman of
eTRAVELi.
"eTRAVELi is an exciting and well run company, providing
high functionality and easy to use web sites to distribute travel
related services, well aligned with modern customer preferences.
The growth has been impressive and I look forward to support
management in further developing the company" says Erik
Strand.
"The market fundamentals for on-line travel
agents are favourable based on continued strong growth of online
distribution for air tickets, hotel and car rental reservations.
Segulah IV is thus pleased to acquire eTRAVELi and look forward to
support the company's continued development as a committed and
active owner", says Percy Calissendorff, Partner at Segulah Advisor
AB.
The acquisition will be Segulah IV L.P.'s third investment.
Management will reinvest and remain as significant shareholders
alongside Segulah IV L.P. The transaction is subject to Norwegian
Competition Authority approval.
For further information, please visit www.segulah.se, www.etraveli.com or
contact:
Ralph Axelson, CEO eTRAVELi:
+46 (0) 708 69 29 14
ralph.axelson@etraveli.com
Percy Calissendorff, Partner Segulah Advisor AB:
+46 (0) 733 47 62 81
calissendorff@segulah.se
Founded in 1994, Segulah is a private equity partnership
focused on lower mid market buyouts in the Nordic region, with a
business model of active ownership through its extensive network of
industrial advisors. Segulah Advisor AB is the exclusive investment
advisor to the Segulah II (MSEK 850), Segulah III (MSEK 2,350) and
Segulah IV (MSEK 5,200) UK Limited Partnerships.
The funds' current portfolio of companies includes: InfoCare
(electronics repair and installation services), PMC Group
(hydraulics and pneumatics), S:t Eriks (prefabricated concrete
products), NEA (electrical installation), Kemetyl (Car Care,
Hygiene and Industrial products), Exotic Snacks (natural snacks),
Almondy (frozen cakes), SKT (low pressure sewer systems, Gunnebo
Industries (Lifting, fastening, traction products, blocks)
and Medstop (pharmacies).