Enterprise Investors Fund IX, together with the European Bank of Reconstruction and Development (EBRD) as a minority co-investor, has signed an agreement under which will take the minority package of eTravel shares. Investment of value to 250 million PLN, which will enable the company to consolidate the in region, is currently waiting for approval by the Office of Protection of Competition and Consumers.
This transaction constitutes the beginning of a partnership between Enterprise Investors and founder and president eTravel, Andrzej Wierzba. The transaction includes a buyout of passive shareholders, and its purpose is to accelerate the geographic expansion of the company, to strengthen its market position and expand its offering.
Founded in 2006 year, eTravel is now the leader in managed service travel in the region of Central Eastern Europe. The company uses the modern, author self-service platform – Corporate Travel Assistant – which increases efficiency and convenience of users, while lowering costs. The platform offers an extensive range of functionality, access to an expanded base of hotels and tickets and smooth integration with accounting systems and policy for travel. travel services customers.
In 2023 year. eTravel made nearly a million reservations, including 300 thousand flight and that same hotel reservations, serving dozens of other corporate customers.
“Enterprise Investors will actively support eTravel in further reinforcing the leader position in the Polish market and in selective expansion in perspective markets of Central and Eastern Europe.East. Our goal is to build a regional champion” – said Jakub Kuberski, partner at Enterprise Investors.
Dariusz Pronchuk, partner managing at Enterprise Investors, said: “we see great potential in creating a regional platform, which will enable tapping synergy in the whole region CEE.”
Andrzej Wierzba, founder and president eTravel, added: “Partnership with Enterprise Investors will enable us to accelerate international expansion and strengthen our competitive edge through further investments in operational and technological development.”
Enterprise Investors is one of thelargestprivateequitycompaniesinCentralEurope.Ithasbeen in operationsince1990andhascreatedtenfunds.TheseFundshaveinvestedorcommittedtoinvesta totalof2.3billionEURin160companiesandhavecompletedinvestmentsin140companies.
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