M&A Deal Summary

TUI Travel Acquires Fritidsresor AB

On December 19, 1997, TUI Travel acquired transportation company Fritidsresor AB from Nordic Capital, Motion Equity Partners and Accent Equity

Acquisition Highlights
  • This is TUI Travel’s 1st transaction in the Transportation sector.
  • This is TUI Travel’s 1st transaction in Sweden.

M&A Deal Summary

Date 1997-12-19
Target Fritidsresor AB
Sector Transportation
Buyer(s) TUI Travel
Sellers(s) Nordic Capital
Motion Equity Partners
Accent Equity
Deal Type Add-on Acquisition

Target

Fritidsresor AB

Stockholm, Sweden
Fritidsresor (Transpool) consisted of three businesses - a loss-making scheduled airline, a charter airline and the number two tour operator in Scandinavia, mainly selling overseas holidays to Scandinavians. The investment rationale was based on being able to turnaround the losses on the schedule airline and capitalise on the synergies between the tour operator and the charter airline.

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Buyer(S) 1

Buyer

TUI Travel

West Sussex, United Kingdom

Category Company
Founded 1965
Sector Leisure
Employees55,000
DESCRIPTION

TUI Travel is one of the world’s leading leisure travel groups, with over 220 trusted brands in 180 countries and more than 30 million customers. TUI Travel is based in West Sussex, United Kingdom.


DEAL STATS #
Overall 1 of 3
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 3
Country (Sweden) 1 of 1
Year (1997) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-23 MalaPronta.com

Curitiba, Brazil

MalaPronta.com is a provider of domestic accommodation online travel agency services.

Buy -

Seller(S) 3

SELLER

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 31.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 4 of 79
Sector (Transportation) 1 of 2
Type (Add-on Acquisition) 2 of 24
Country (Sweden) 4 of 41
Year (1997) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 Hilding Anders

Malmo, Sweden

Hilding Anders is a bed and mattress manufacturer which sells both branded and private-label products in over 40 markets and has delivered strong growth over the past decade. Hilding Anders was founded in 1939 and is based in Malmo, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Essex AB

Kista, Sweden

Essex is a Nordic contract manufacturers of electronics mainly for mobile phone manufacturers.

Buy -
SELLER

Motion Equity Partners

Paris, France

Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Motion Equity Partners is a European private equity firm that targets large buyouts and turnaround situations valued up to €300 million. Broad areas of interest include consumer (leisure, retail, household and consumer goods, food/beverages), industrial (building materials, automotive, manufacturing, chemicals), business services (outsourced services, logistics and transportation, facilities management), and healthcare services and equipment. Motion prefers opportunities located in France, the UK, Germany, and Italy and looks to commit €20 to €80 per transaction. Motion Equity Partners was established in 2001 and is headquartered in Paris.


DEAL STATS #
Overall 1 of 32
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 17
Country (Sweden) 1 of 1
Year (1997) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 Premium Credit

Surrey, United Kingdom

Premium Credit is a provider of premium finance for commercial and retail insurance products. PCL’s products are a key source of funding for consumers and smaller businesses in the purchase of often mandatory products, such as motor, home or fire insurance. The company also provides financing for the payment of annual fees such as membership subscriptions, professional fees, commercial service charges and school fees. Premium Credit was founded in 1988 and is based in Surrey, United Kingdom.

Buy £65M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Inspectorate International

Witham, United Kingdom

Inspectorate is a global inspection group with representation in over 80 countries. Prior to Cognetas’ ownership the company had had several changes of senior management and several attempts at diversification that had resulted in losses and write-offs in the two previous years. Cognetas acquired the business with the backing of the new management and allowed the business to develop new areas of expertise by re-focusing on its core operations.

Sell -
SELLER

Accent Equity

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Accent Equity Partners is a middle-market private equity firm that targets buyout and expansion capital investments in Scandinavia. Accent Equity is sector agnostic and generally prefers acquiring controlling positions. Accent Equity was formed in 1994 and is based in Stockholm.


DEAL STATS #
Overall 1 of 41
Sector (Transportation) 1 of 2
Type (Add-on Acquisition) 1 of 22
Country (Sweden) 1 of 34
Year (1997) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-01-01 Fritidsresor AB

Stockholm, Sweden

Fritidsresor (Transpool) consisted of three businesses - a loss-making scheduled airline, a charter airline and the number two tour operator in Scandinavia, mainly selling overseas holidays to Scandinavians. The investment rationale was based on being able to turnaround the losses on the schedule airline and capitalise on the synergies between the tour operator and the charter airline.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 Elmo Sweden AB

Svenljunga, Sweden

Elmo Sweden AB is a manufacturer of exclusive furniture leather and one of the six biggest suppliers of leather to the automotive industry.

Buy -