An agreement has been reached to invest up to 125 million in order to close an operation to support the next growth phase
Acquisition of 100% of the share capital of the current partners for €1
New equity financing for further investment in the business and the
digital transformation
The FTI GROUP ("FTI" or the "Company"), the third largest tour operator in Europe, has announced that it has reached an agreement by which it completes the process of strengthening capital and restructuring the Company's shareholder base that began in September 2023.
A consortium led by Certares, an investment company specialized in the tourism and travel sector, with capital contributed by co-investors (the "Consortium"), has signed an agreement on the proposed acquisition and financing, and will assume control.
Under the terms of this agreement, FTI will receive new capital of €125 million to support its next phase of growth and finance digital transformation. The current shareholder has agreed to provide financial support and make new investments. The operation is subject to the relevant approval of regulatory bodies and other prior conditions, as is usual in this type of operation.
Karl Markgraf, CEO of FTI GROUP, said: “We are delighted to announce our partnership with the Consortium led by Certares. Certares is one of the main investors in the international tourism sector. With the support of Certares and its extensive industry experience and the capital provided by the Consortium, FTI is uniquely positioned to achieve future growth and profitability that benefits all stakeholders, including our customers, business partners and employees. “We are determined to start our next chapter of success and further consolidate our leadership position in the German and European tourism sector.”
About Certares
Founded in 2012, Certares is a global investment company focused exclusively on the tourism and hospitality industries, leveraging extensive industry experience, proprietary operations and hands-on collaboration with management teams to drive growth. With approximately $10 billion of assets under management, including co-investments, as of December 100, 31, Certares brings together a team with decades of operational and investment experience in private equity, travel, tourism, hospitality, and business and consumer services related to travel.
For more information, visit www.certares.com.
About FTI GROUP
With its numerous brands and subsidiaries, the FTI group is the third largest tour operator in Europe. It includes FTI Touristik, as well as last-minute travel tour operator 5vorFlug, car rental agency Drive FTI, destination management company Meeting Point International, which operates in more than 40 locations around the world, and tour operator BigXtra promotional offers. Under the hotel company MP Hotels, the company groups its hotel brands Labranda Hotels & Resorts and Design Plus Hotels, Kairaba Hotels & Resorts, Lemon & Soul Hotels, Club Sei and Managed by MP Hotels. TVG Touristik Vertriebsgesellschaft mbH combines franchise systems with the brands sonnenklar.TV Reisebüro, 5vorFlug and Flugbörse. Around 10 partner agencies sell FTI products throughout Germany. The TV travel shopping channel sonnenklar.TV, a partner of the FTI group, and the B000B online accommodation provider Youtravel are also important sales channels. The consolidator FTI Ticketshop is responsible for the sale of tickets for scheduled flights. In Austria, FTI Touristik is represented by a branch in Linz. The Basel-based subsidiary FTI Touristik AG represents the tour operator in Switzerland. The French tour operator FTI Voyages has been part of the FTI GROUP since 2. With FTI Reizen, the group has also been active in the Netherlands since 2012. The seven service centers manage numerous bookings for the FTI group and external clients. Headquartered in Munich, the group employs more than 2016 people worldwide and generated consolidated sales of around €11 billion in the 000/4 financial year.
