CVC Capital Partners has announced that KKR will acquire a significant minority stake in the global travel technology firm Etraveli Group. This partnership positions Etraveli for growth and reinforces its status as the world’s largest flight intermediary and fulfillment company outside of China.
Based in Stockholm, Etraveli operates a Flight Tech Platform that provides airline tickets to nearly 50 million travelers annually across 75 markets. The company aims to offer a wide selection of high-quality air content that is easy to book and competitively priced, leveraging AI technology and strategic partnerships. Its services are available through brands like Gotogate, Mytrip, and Flightnetwork, as well as through solutions for partners such as Booking.com and Radisson Hotel Group.
CVC’s Technology and Nordic teams acquired Etraveli from ProSiebenSat.1 in 2017 and helped transform it into a global leader. Etraveli currently processes over €15 billion in annual flight sales, showing consistent growth. KKR’s investment comes from its Strategic Investments Group, which provides partnership capital solutions and resources to support leading businesses.
Advisor: J.P. Morgan Securities acted as the exclusive financial advisor to CVC on this investment.
KEY QUOTES:
“We are excited to welcome KKR as a new investment partner, given their strong track record in the global travel and technology markets. This is another landmark moment for Etraveli Group that strengthens our global position and marks the next chapter in our effort to bring innovation and expertise to facilitate flight purchases for customers around the world. Together with CVC and KKR, we look forward to accelerating the expansion of our global B2B Flight Tech Platform and continuing to deliver smart, seamless travel solutions together with our partners.”
Mathias Hedlund, Etraveli Group’s Chief Executive Officer
“Mathias and his team have built a world-leading e-commerce platform for flights and it has been an absolute pleasure to have supported them over the past eight years, delivering significant growth for Etraveli Group. We look forward to continuing our involvement with the business as a joint shareholder with our new partners at KKR and we’re excited to embark on the next phase of the journey with the company.”
Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC, and Gustaf Martin-Löf, Partner of CVC
“Etraveli Group has established itself as a clear global leader in flight technology with a unique platform, deep industry integration and a strong track record. We are pleased to partner with the Etraveli Group’s leadership team and CVC to deliver a tailored capital solution that will help support Etraveli Group’s continued expansion and innovation. This investment builds on KKR’s commitment to backing European champions and contributing to the growth of high-quality, tech-enabled businesses.”
Blaine MacDougald, Partner and Co-Head of the Strategic Investments Group at KKR
